Eight foreign nationals suspected of running a global insider trading network that generated tens of millions of dollars in illicit profits are facing charges of securities fraud and money laundering in the United States, federal prosecutors announced Nov. 18 in Boston.
Federal authorities claim three of the suspects were leaders of the insider trading network, which operated from 2016 to 2024. Many of the illegal trades allegedly took place over an automated exchange in Massachusetts.
The leaders allegedly recruited investment bankers and other corporate insiders who had access to nonpublic information about the financial performance and merger-and-acquisition activity of publicly traded companies, according to court documents….