SEC v. Nicolo Nourafchan, et al.

Nicolo Nourafchan, an attorney working on mergers and acquisitions, and Robert Yadgarov allegedly orchestrated an insider trading scheme between 2018 and 2024. Nourafchan allegedly misappropriated material nonpublic information about at least a dozen impending corporate transactions from his law firm employer. He or Yadgarov then allegedly tipped this information to others who agreed to provide a portion of their trading profits or who, in turn, tipped others who traded. Nourafchan and Yadgarov also allegedly recruited another corporate lawyer who misappropriated material nonpublic information about additional deals and tipped that information to them. The scheme appears to have netted scheme participants millions of dollars in illicit profits.

Summary generated from official Securities and Exchange Commission press release