Check this out /biz/>Federal prosecutors on Wednesday announced they charged 30 people with participating in an insider trading scheme in which attorneys passed tips on merger deals to a network of people who traded on the information.>Nineteen people were arrested, including attorney Nicolo Nourafchan, who federal prosecutors in Boston said was at the center of a decade-long scheme that generated tens of millions of dollars.>Nourafchan, who graduated from Yale Law School, worked from 2013 to 2023 at law firms including Sidley Austin, Latham & Watkins and Goodwin Procter. Those law firms were not identified by name in the indictment, opens new tab but it described corporate deals that the firms had previously announced they worked on.>Prosecutors and the U.S. Securities and Exchange Commission, which filed a related civil case, said Nourafchan and New York personal injury attorney Robert Yadgarov orchestrated the alleged scheme, which involved nearly 30 M&A deals.>Prosecutors said Nourafchan and others accessed law firms' confidential documents about unannounced pending mergers.>Nourafchan and Yadgarov then provided inside information to a network of traders and middlemen for kickbacks, authorities said.https://www.reuters.com/world/us-charges-30-people-with-roles-global-insider-trading-scheme-2026-05-06/https://www.instagram.com/reel/DYDMQJTEV0D/?igsh=MTBwdzg0Y24zdWVpNA==
>>62228208So what do you think? Does this show that we are always playing a rigged game? It proves even lawyers making millions will take on massive risk to get the upper hand. Don't you think everyone is doing something like this? They want your money and they don't give a shit how they get it.
>>62228208>Nouraf-chan
>>62228213Are there really people on this board that don't think the game is rigged? A rigged game doesn't mean you can't win, you just have to work around the rigging. Some do it illegally like those lawyers and get caught, others are just smarter or luckier
>>62228213of course its rigged and its also why i dont hold one investment for too long, theres always one person or a group looking to butt fuck the rest.
>>62228213
I find it hilarious considering that goverment members are allowed to do insider trading. Fuck this country to hell.
it's pretty funny that one of the mergers they made money on was irobot and amazon, which was ultimately shot down by elizabeth warren. irobot ended up going bankrupt last year and was sold off to a chinese company. but hey, at least warren prevented a monopoly.
>>62228750If people knew the kind of stuff Feds pulled there wouldn’t be a federal gov - imagine a retard with a gun and a badge that thinks the initial d followed by john is a John Doe and not a compartmentalized identity to avoid email spam.
>>62228208>decade-long scheme that generated tens of millions of dollarsso $90 mil total over ten years is $9 mil a year distributed amount how many people in this "network" are benefiting? 10? 50? 100? i mean its a good a gig to be a part off but that barely translates into six figure hell.
>>62228208This is why you dont get too many people involved in your illegal activities. I bet you could get away with this shit if you setup an offshore trading account and dont touch the money until you decide to retire and fuck off from the US.
>>62228994And these are lawyers who make millions at their day job. Talk about greed.
