Ex-Richmond Fed Examiner Admits to Insider Trading

Robert Brian Thompson, a former bank examiner at the Federal Reserve Bank of Richmond, pleaded guilty to insider trading and false statements, admitting to a scheme where he illegally earned over $700,000 by trading stocks of financial institutions he oversaw. Using confidential information, Thompson made 69 trades involving stocks like Capital One and New York Community Bancorp, violating federal regulations prohibiting such trades by Fed employees. He faces up to 20 years in prison, with sentencing scheduled for March 19.