{"id":6187,"date":"2017-08-17T17:16:42","date_gmt":"2017-08-17T22:16:42","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1729"},"modified":"2020-09-17T09:11:11","modified_gmt":"2020-09-17T14:11:11","slug":"5m-insider-trading-case-leads-criminal-arrests-civil-charges","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/","title":{"rendered":"$5M Insider Trading Case Leads to Criminal Arrests"},"content":{"rendered":"

The US Securities and Exchange Commission has brought insider trading case charges<\/a> against seven people who made millions of dollars while insider trading on dozens of upcoming acquisitions and mergers involving 30 corporate deals. The regulator\u2019s complaint contends that Daniel Rivas, who used to be a bank IT employee, misused the access he had to a computer system by tipping four people with information that they then used to trade. Some of the those whom Rivas tipped allegedly also tipped other people, who tipped others, too.<\/p>\n

InvestmentNews<\/em> identified the bank that Rivas worked for at the time of the misconduct as Bank of America (BAC)<\/a>. (Bank of America Merrill Lynch later fired Rivas, who was then hired by RBC Capital Markets. In the wake of the insider trading allegations against him, Rivas was suspended by RBC.)<\/p>\n

Rivas often tipped James Moodhe, who is the father of his girlfriend, using handwritten notes. Moodhe made approximately $2M from trading on the tips and shared the information with financial adviser Michael Siva, whom InvestmentNews<\/em> identifies as a former Morgan Stanley (MS) broker.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission has brought insider trading case charges against seven people who made millions of dollars while insider trading on dozens of upcoming acquisitions and mergers involving 30 corporate deals. The regulator\u2019s complaint contends that Daniel Rivas, who used to be a bank IT employee, misused the access he had to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3751,3752,3811,3787],"tags":[],"class_list":["post-6187","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-financial-firms","category-insider-trading","category-morgan-stanley"],"yoast_head":"\n$5M Insider Trading Case Leads to Criminal Arrests | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"The US SEC has brought insider trading case charges against seven people who made millions of dollars on dozens of upcoming acquisitions and mergers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"$5M Insider Trading Case Leads to Criminal Arrests | Securities Fraud Attorney\" \/>\n<meta name=\"twitter:description\" content=\"The US SEC has brought insider trading case charges against seven people who made millions of dollars on dozens of upcoming acquisitions and mergers.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"$5M Insider Trading Case Leads to Criminal Arrests | Securities Fraud Attorney","description":"The US SEC has brought insider trading case charges against seven people who made millions of dollars on dozens of upcoming acquisitions and mergers.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/","twitter_card":"summary_large_image","twitter_title":"$5M Insider Trading Case Leads to Criminal Arrests | Securities Fraud Attorney","twitter_description":"The US SEC has brought insider trading case charges against seven people who made millions of dollars on dozens of upcoming acquisitions and mergers.","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"$5M Insider Trading Case Leads to Criminal Arrests","datePublished":"2017-08-17T22:16:42+00:00","dateModified":"2020-09-17T14:11:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/"},"wordCount":553,"articleSection":["Bank of America","Financial Firms","Insider Trading","Morgan Stanley"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/","url":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/","name":"$5M Insider Trading Case Leads to Criminal Arrests | Securities Fraud Attorney","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-08-17T22:16:42+00:00","dateModified":"2020-09-17T14:11:11+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US SEC has brought insider trading case charges against seven people who made millions of dollars on dozens of upcoming acquisitions and mergers.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/5m-insider-trading-case-leads-criminal-arrests-civil-charges\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"$5M Insider Trading Case Leads to Criminal Arrests"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1BN","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=6187"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6187\/revisions"}],"predecessor-version":[{"id":19229,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6187\/revisions\/19229"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=6187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=6187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=6187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}