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Ex-Nuveen Stock Trader Gets 70 Months for Insider-Trading Scheme
News May 22, 2024 at 01:24 PM
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What You Need To Know
- He tipped off an Oregon retiree about the firm's planned trades in stocks in a six-year plot involving over 1,000 trades.
- The retiree sent Billimek a share of the profits through checks and wire transfers totaling about $12 million.
- The scheme was one of the first uncovered by the Consolidated Audit Trail, a database of trading information launched by the SEC in the wake of the 2010 Flash Crash.
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