SEC Charges Former Financial Industry Analyst and Executives with Insider Trading and Accounting Fraud

The Securities and Exchange Commission (SEC) has charged former financial industry analyst Anthony Viggiano and three others with insider trading related to multiple merger and acquisition transactions. Viggiano allegedly obtained nonpublic information about eight transactions and tipped off his friend Christopher Salamone, who made approximately $322,000 in illegal profits. Viggiano also tipped off his college friend Stephen Forlano, who made around $113,000 in illegal profits. Forlano then tipped off Nathan Bleckley, resulting in illegal gains of nearly $25,000. The SEC is seeking injunctive relief, disgorgement, and civil penalties. The U.S. Attorney's Office for the Southern District of New York has also announced criminal charges against Viggiano, Forlano, and Salamone.