Former Bank of America Banker Accused of Insider Trading Tip on $8.1 Billion Takeover

The SEC has charged a former Bank of America investment banker with illegally tipping a friend about a confidential South Jersey Industries acquisition, resulting in millions in illicit profits.

25 Aug, 16:55 — 25 Aug, 16:55

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Times of IndiaMostly Factual6d ago

Banker allegedly tipped friend about $8.1bn takeover; friend made $18.5m

A former Bank of America investment banker has been accused by the SEC of tipping a longtime friend about a confidential $8.1 billion South Jersey Industries takeover. The friend allegedly bought $53 million worth of shares and made $18.5 million after the deal was announced. Both men deny the insider-trading allegations and face legal action.

By TOI WORLD DESK

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Former Bank of America Banker Accused of Insider Trading Tip on $8.1 Billion Takeover

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Banker allegedly tipped friend about $8.1bn takeover; friend made $18.5m

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