SEC accuses Wells Fargo analyst of insider trading

ezgif.com-resize (2)Nov 2 U.S. securities regulators on Monday accused a former Wells Fargo & Co analyst of engaging in an insider trading scheme that enabled her then-boyfriend to make over $220,000.

In a lawsuit filed in federal court in Boston, the U.S. Securities and Exchange Commission said Shirmila Doddi, the analyst, tipped Vlad Spivak off to a deal involving a dental practice management company in 2011.

The SEC said Spivak, 39, had been unemployed and supported himself day trading when he bought shares in American Dental Partners Inc ahead of its $398 million acquisition by private equity firm JLL Partners Inc.

Source: Reuters

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