A former financial analyst used Xbox audio chat to conduct insider trading, the U.S. Securities and Exchange Commission (SEC) alleged Thursday.

The SEC has charged four men with insider trading of securities based on insider knowledge of various business mergers and acquisitions, the government agency announced. The U.S. District Court for the Southern District of New York has also placed criminal securities fraud charges against three of the men, according to an SEC release.

“As alleged in our complaint, Anthony Viggiano violated his employers’ trust by misusing his access to confidential information to repeatedly and unjustly enrich himself and his friends,” said SEC Market Abuse Unit Chief Joseph Sansone, in a statement.

According to the SEC complaint, Viggiano possessed insider information in his prior role as an analyst at two different financial firms. He then allegedly shared said knowledge with friends Stephen Forlano and Christopher Salamone, as well as with another individual, Nathan Bleckley. 

Viggiano allegedly gave Forlano some of his own funds to trade with in a purported effort to reduce suspicions that Viggiano might be profiting from insider trading. The other individuals named in the complaint allegedly enga

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Author: Kate Irwin

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