{"id":197,"date":"2026-06-01T20:13:25","date_gmt":"2026-06-01T20:13:25","guid":{"rendered":"https:\/\/officemovingamerica.com\/?p=197"},"modified":"2026-06-01T20:13:25","modified_gmt":"2026-06-01T20:13:25","slug":"lawyers-others-plead-not-guilty-to-massive-us-insider-trading-scheme","status":"publish","type":"post","link":"https:\/\/officemovingamerica.com\/?p=197","title":{"rendered":"Lawyers, Others Plead Not Guilty to Massive US Insider Trading Scheme"},"content":{"rendered":"<div>\n<div>\n<p>By Nate Raymond<\/p>\n<\/div>\n<div>\n<p>BOSTON, June 1 (Reuters) &#8211; Fifteen people, including a lawyer \u2060who \u2060worked at several major law firms, \u2060pleaded not guilty on Monday to U.S. charges that they participated in a \u200bdecade-long scheme in which attorneys fed an insider trading ring tips about nearly 30 underway mergers.<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=195\">Soccer-Toronto Police Seize $2.5 Million Worth of Fake Soccer Gear Ahead of World Cup<\/a><\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>Nicolo Nourafchan, who had worked at \u200cthe law firms Sidley Austin, Latham &amp; \u200cWatkins and Goodwin Procter, was among the defendants who appeared in federal court in Boston to enter pleas \u2060to securities fraud \u2060and other charges.<\/p>\n<\/div>\n<div>\n<p>Thirty people in total have been charged with participating in the \u200bdecade-long scheme, which prosecutors say netted tens of millions of dollars and was orchestrated by Nourafchan and personal injury attorney Robert Yadgarov.<\/p>\n<\/div>\n<div>\n<p>Yadgarov also entered a not guilty plea, along with Nourafchan&#8217;s brother, Lorenzo, the founder of a fractional CFO and accounting firm. \u200bHe is paying Nicolo Nourafchan&#8217;s attorney fees under an arrangement a judge warned risked creating a potential \u2060conflict \u2060of interest.<\/p>\n<\/div>\n<div>\n<p>&#8220;You may have different \u2060interests as this goes \u200bon,&#8221; U.S. Magistrate Judge Judith Dein said.<\/p>\n<\/div>\n<div>\n<p>Martin Weinberg, a lawyer for Nicolo Nourafchan, in a statement said \u200bhis client &#8220;asserted his innocence to \u2060each allegation at his arraignment today and we intend a vigorous and compelling defense.&#8221;<\/p>\n<\/div>\n<div>\n<p>According to authorities, the scheme began in 2014 not long after Nicolo Nourafchan graduated from Yale Law School and landed a job at Sidley Austin.<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=193\">Exclusive-Iran War Hands Syria Windfall as Airlines Reroute Over Its Airspace<\/a><\/p>\n<\/div>\n<div>\n<p>Prosecutors said Nourafchan, while working at Sidley and other law firms, tipped Yadgarov and others off to impending corporate transactions in \u2060exchange for kickbacks generated from any trading profits.<\/p>\n<\/div>\n<div>\n<p>Nourafchan and Yadgarov also recruited other attorneys into the \u2060scheme to feed tips to them, including one who worked at Wachtell, Lipton, Rosen &amp; Katz and another who was employed by Weil, Gotshal &amp; Manges and Willkie Farr &amp; Gallagher.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>The latter, Gabriel Gershowitz, secretly pleaded guilty last year and is now a cooperating witness in the case. Guilty pleas for eight other people dating back to 2024 were unsealed the day prosecutors announced the case on May 6.<\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>Many of the defendants are Jewish, and an indictment alleged that they spoke in coded messages related to their backgrounds while discussing merger tips, referring to one deal as a &#8220;flight to Israel&#8221; and another as \u2060a &#8220;rabbi.&#8221;<\/p>\n<\/div>\n<div>\n<p>Among the defendants is Joseph Suskind, a Florida resident in the insurance adjusting business charged with trading in 2022 on tips about SailPoint&#8217;s agreement to be bought by Thoma Bravo and iRobot&#8217;s later-abandoned deal to be acquired by Amazon.com Inc. Defense lawyer Michael Kendall called him innocent.<\/p>\n<\/div>\n<div>\n<p>&#8220;Evidence is more important \u200bthan press releases,&#8221; Kendall told reporters after Suskind&#8217;s arraignment. &#8220;We look forward to the trial.&#8221;<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=191\">Trump Says Talks With Iran Continue<\/a><\/p>\n<\/div>\n<div>\n<p>(Reporting \u200bby Nate Raymond in Boston; Editing by Alistair Bell)<\/p>\n<\/div>\n<div>\n<p><b>Copyright 2026 Thomson Reuters<\/b>.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. 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