“Insider trading is not easy money,” U.S. Attorney Damian Williams said in a release. “It’s cheating. It’s a bad bet. Because my Office, the Southern District of New York, is watching. And we’re working quickly to investigate and prosecute anyone who corrupts our financial markets. And we’ll keep at it as long as it takes. You can bet on that.”
Three Florida men were arrested Thursday and charged with illegally making more than $22 million by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by former President Donald Trump public.
The charges were outlined in an indictment unsealed in Manhattan federal court that did not implicate Trump in any way. The indictment was among four separate insider trading cases brought against 10 people, including a Pfizer employee and associate and an investment firm executive director.