A former quantitative analyst for a global asset manager was charged with securities and wire fraud for allegedly using nonpublic information to commit insider trading that netted him more than $8.5 million in profit, according to a complaint unsealed Thursday in federal court.
The broker, Sergei Polevikov, who worked at OppenheimerFunds Inc., is accused of operating a front-running scheme in which he would use his wife’s personal brokerage account to buy or sell stock in advance of large pending purchase or sale orders by his employer on behalf of its clients. The alleged scheme took advantage of small price movements that generally happened during and following the firm’s purchases, according to the U.S. attorney’s office for the Southern District of Manhattan.
Mr. Polevikov, 48 years old of Port Washington, N.Y., was also charged with investment company fraud. He was expected to be arraigned Thursday afternoon. A lawyer for Mr. Polevikov couldn’t immediately be reached.
WSJ It'll be great if we could also go after the FED personnel and congress for inside trading.
WSJ So why are Congress members immune if insider trading is a crime ?
WSJ this is terrible news
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Launch House residents were angered by party, COVID outbreakA wild party and a COVID outbreak are forcing Launch House — where young founders pay to live and work in mansions — to face scrutiny over safety sociopaths You mean Bro House? Alpa Beta A Hole. TLDR - we throw 100s of events. 1 wasn’t the vibe. we still throw events. come see for yourself, apply at
Source: BusinessInsider - 🏆 729. / 51 Read more »
Argus Capital, Media-Focused SPAC Led By Former CBS Brass, Has IPOArgus Capital Corp., a special-purpose acquisition company created by former CBS CEO Joe Ianniello, head of CBS Interactive Marc DeBevoise and other CBS alums, has gone public. The SPAC, which is t…
Source: DEADLINE - 🏆 109. / 63 Read more »
Crews search for former Navy SEAL after his half brother is found dead in YellowstoneRescue crews are continuing their search for a former Navy SEAL after they recovered the body of his half brother in Yellowstone National Park, officials say.
Source: NBCNews - 🏆 10. / 86 Read more »
In Kabul, a Former American Citizen Keeps Running the City Under Taliban WatchA day after the fall of Kabul, as thousands of desperate members of the former government tried to escape via the U.S-controlled airport, the Taliban contacted the capital’s mayor to tell him that they guaranteed his security. Now, he’s back at his desk. Phh no a Won’t he be required to change his clothing into Taliban garb?
Source: WSJ - 🏆 98. / 63 Read more »
Evergrande crisis will hurt China’s economic growth, says former central bank advisorA default by Evergrande will have minimal effect on the Chinese financial system, said Li Daokui, a former advisor at the People's Bank of China. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens1 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success Who. Cares.
Source: CNBC - 🏆 12. / 72 Read more »
Former Fed official says his biggest worry is a ‘major reversal’ in progress toward containing COVID“We live in a world of multiple variants we are watching closely. That’s where the risk lies,” said Former Atlanta Fed president Dennis Lockhart. He added that “transient” inflation “now means longer than a few months.” Covid will remain an important tool in creating a portrait that wants to be painted by select individuals. Covid is very real and getting vaccinated is, but the its being weaponized
Source: MarketWatch - 🏆 3. / 97 Read more »