An ex­pen­sive watch, shell com­pa­nies and fake in­voic­es: How two Is­raeli traders tapped in­to a $100M glob­al biotech in­sid­er trad­ing ring

It ap­pears that we have reached the end of the saga about the glob­al in­sid­er trad­ing ring that col­lec­tive­ly reaped $100 mil­lion from plac­ing “time­ly, prof­itable” trades in biotech stocks like Ari­ad, Phar­ma­cyclics and Re­cep­tos.

Tomer Fein­gold and Dov Mal­nik — Is­raeli traders liv­ing in Switzer­land — were the last out of eight to be charged as the SEC un­rav­eled the scheme, which ran from 2013 through 2017. To­geth­er, ac­cord­ing to a state­ment in March, the pair had pock­et­ed more than $4 mil­lion.

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