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Former Goldman Sachs analyst and friends face insider trading charges in multi-million dollar scheme

TL;DR

  • Former Goldman Sachs and Blackstone analyst Anthony Viggiano and two friends are facing criminal insider trading charges for allegedly profiting over $580,000 through leaked confidential information.
  • Christopher Salamone, one of the friends implicated, has pleaded guilty and is cooperating with the Department of Justice; both former employers express zero tolerance for such misconduct.
  • The SEC’s increasing vigilance in cracking down on insider trading extends beyond this case, involving other professionals and even politicians, signaling a strong intent to uphold market integrity.

Anthony Viggiano, a 26-year-old former analyst for financial giants Goldman Sachs and Blackstone, finds himself at the center of a criminal insider trading investigation. Authorities say that Viggiano leaked confidential information related to at least eight high-profile transactions between 2021 and 2023. These leaks reportedly passed to long-time friend Christopher Salamone and college buddy Stephen Forlano, led to trades generating more than $580,000 in illegal profits. Moreover, Salamone alone pocketed $322,000, as revealed by court documents.

Profits under the guise of World War III

Viggiano and Salamone invested in four other defense companies as a decoy in a calculated move. They aimed to defend their actions by arguing they were investing in anticipation of a possible World War III. However, U.S. Attorney Damian Williams countered that Viggiano “betrayed the trust of his employers.” Both Blackstone and Goldman Sachs, Viggiano’s former employers, have expressed zero tolerance for the alleged misconduct and are cooperating with authorities.

Michael Bachner, Forlano’s attorney, stated his client denies any wrongdoing and will contest the charges vigorously. Todd Spodek, the attorney for Nathan Bleckley, another individual implicated in the scandal, emphasized his client’s commitment to ethical behavior. Bleckley, a U.S. Army Captain, resides in Altus, Oklahoma, and is also under investigation.

Salamone has already pleaded guilty to three counts of securities fraud and one count of conspiracy. He is cooperating with the Department of Justice in its ongoing investigation. The Securities and Exchange Commission (SEC) also filed related civil charges against all four men. This broad crackdown on insider trading is not an isolated incident. Just a week ago, a Massachusetts police chief faced charges for insider trading that yielded over $2.2 million in illicit gains.

The SEC has been increasingly vigilant. Joseph Sansone, Chief of the SEC’s Market Abuse Unit, stressed that insider traders would be tracked down, regardless of how covert their actions may be. This increasing scrutiny is casting its net far and wide, even involving politicians like former Congressman Stephen Buyer, who was recently sentenced to 22 months in prison for similar offenses.

It is important to know that both Blackstone and Goldman Sachs are cooperating with the authorities, signifying the severity with which such misconduct is treated.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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