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BRIEF-SEC charges four in insider case linked to healthcare policy leaks
May 24, 2017 / 2:33 PM / 5 months ago

BRIEF-SEC charges four in insider case linked to healthcare policy leaks

May 24 (Reuters) - U.S. SECURITIES AND EXCHANGE COMMISSION FILES CIVIL INSIDER TRADING CASE AGAINST DAVID BLASZCZAK, JORDAN FOGEL, THEODORE HUBER, CHRISTOPHER WORRALL IN CONNECTION WITH HEALTHCARE POLICY LEAKS -- COURT PAPERS SEC CHARGES WERE FILED AFTER CRIMINAL CHARGES WERE UNVEILED AGAINST THE FOUR DEFENDANTS, AS WELL AS A FIFTH DEFENDANT, ROBERT OLAN SEC SAYS WORRALL, A SENIOR STAFF MEMBER AT CENTERS FOR MEDICARE & MEDICAID SERVICES, ILLEGALLY TIPPED HIS FRIEND BLASZCZAK, A “POLITICAL INTELLIGENCE” INDUSTRY CONSULTANT, ABOUT HIS AGENCY‘S POLICY DELIBERATIONS AND DECISIONS SEC SAYS BLASZCZAK TIPPED HUBER AND FOGEL, WHO WERE ANALYSTS AT AN INVESTMENT ADVISOR THAT WAS ALSO A CLIENT, WHO MADE TRADES IN HEALTHCARE COMPANIES THAT WOULD BE AFFECTED BY THE AGENCY‘S DECISIONS SEC SAYS FOGEL AND HUBER MADE THE TRADES ON BEHALF OF VARIOUS HEDGE FUNDS, YIELDING MORE THAN $3.9 MLN ILLEGAL PROFIT SEC SAYS THE INVESTMENT ADVISOR PAID BLASZCZAK‘S FIRMS AT LEAST $193,000 FOR THE TIPS Sec says the trades involved at least three cms announcements and four companies’ securities, including davita, elekta , fresenius and varian SEC CHARGES, LIKE THE U.S. DEPARTMENT OF JUSTICE‘S CRIMINAL CHARGES, WERE FILED IN MANHATTAN FEDERAL COURT

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