Former OppenheimerFunds Analyst Charged With Insider Trading That Netted $8.5 Million
Analyst is charged by federal prosecutors in Manhattan with making trades ahead of larger OppenheimerFunds purchases or sales
wsj.com/articles/forme…
Analyst is charged by federal prosecutors in Manhattan with making trades ahead of larger OppenheimerFunds purchases or sales
wsj.com/articles/forme…
A lawyer for Mr. Polevikov said her client was surprised by the charges, and intends to defend against them vigorously.
“The government has it wrong,” said the lawyer, Brooke Cucinella.
“The government has it wrong,” said the lawyer, Brooke Cucinella.
In trading on Jan. 22, 2018, he scored $96,358 in profits after using his wife’s account to buy and sell 400,000 shares of stock in Brazilian banking giant Itau Unibanco Holding SA, according to the complaint.
Shortly after he purchased the stock, the complaint says, the fund bought nearly 8 million shares of Itau Unibanco, causing the share price to increase slightly. Mr. Polevikov sold his shares during the price fluctuation, according to the complaint.
The personal account of Mr. Polevikov’s wife shows about 2,800 instances of trading that followed a similar pattern, federal investigators said.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
