- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-30T14:37:00
The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) on Thursday announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an unnamed international payment processing company.
The CCO, Steven Teixeira, pleaded guilty to DOJ charges he obtained material nonpublic information from the laptop of his then-girlfriend, an executive assistant at a New York City investment bank. Between 2021 and 2022, Teixeira shared this information with friends, including Jordan Meadow, to generate illegal profits, the DOJ alleged. Meadow provided items of value, including a Rolex, to Teixeira in exchange for the information, per the DOJ.
Meadow was arrested and charged with six counts of securities fraud. He and Teixeira were each charged by the SEC with violating the antifraud provisions of the federal securities laws and face civil penalties, disgorgement orders, and officer-and-director bars.
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Westpac Banking Corp. was assessed a maximum fine of AUS$1.8 million (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission of insider trading related to an interest rate swap transaction.
Private equity company Tavistock Group announced the retention of law firm Sidley Austin to conduct a compliance review, the same week that its billionaire founder pleaded guilty to U.S. insider trading charges.
OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
