Published on:

Alleged $30 Million Insider Trading Charges for Two Men in Washington, DC


A senior associate at a major law firm in Washington, D.C. was arrested by the FBI on federal securities fraud charges, according to Manhattan Criminal Lawyers. It may be that it is all tied in to a $30 million plan that involved insider trading regarding pending corporate mergers.
The senior associate will be arraigned in Newark, along with a banker who has been charged with using the illegal information the associate provided. The U.S. Attorney and FBI officials will soon release statements. The attorneys for the accused have yet to make any comment on the matter.
Authorities in the U.S. Attorney’s office say the scheme had been going on for decades. It stole information not only from the firm the associate worked for, but from several other firms at which the associate had previously worked.
The accused pair invested more than $109 million dollars in their scheme, which yielded profits of more than $32.2 before they were caught. In New York City and Long Island, fraud cases are common and many wind up going to trial.
The senior associate was a graduate of NYU Law School and was hired by three major law firms, proving he had what it takes to do the job legitimately. He even attempted to avoid detection of his criminal activity by using pay phones and prepaid cellphones, which were later discarded, when discussing insider trading.
Manhattan Criminal Lawyers believe there may have been wiretap evidence anyway, because the associate and his banker accomplice were charged with 17 counts, including 11 for insider trading, four more for obstruction of justice, and two counts of conspiracy to commit insider trading and to commit money laundering.
Details are still forthcoming about the case, with a number of people who are interested in such legal matters, keeping a close eye on events as they unfold. A press conference has been announced, at which further details will be given by the proper authorities. Until then, information on the pair is sparse, at best, at least regarding the case. Personal details, especially about the accused senior associate, are constantly coming to the fore, as acquaintances chime in with something new.

No matter what the accusation or how sensational the charges, everyone deserves a solid defense – it’s a guaranteed right. If you or a loved one are in need of such defense, look no further than a Manhattan Criminal Lawyer. There is no charge too great (or too small) for a Manhattan Criminal Lawyer to handle with expertise and discretion. The Office of Stephen Bilkis and Associates can offer you support and guidance as well as a free consultation when you contact us at 1-800-NY-NY-LAW. We have offices in New York City, including Brooklyn, Queens, Manhattan, Staten Island and The Bronx and in Nassau County, Suffolk County and Westchester County.

Published on:

Comments are closed.

Contact Information