SEC charges ex-Gold­man Sachs an­a­lyst with il­le­gal­ly prof­it­ing off bio­phar­ma merg­ers in in­sid­er trad­ing scheme

A for­mer com­pli­ance an­a­lyst abused his ac­cess to con­fi­den­tial and non-pub­lic in­for­ma­tion to il­le­gal­ly prof­it off of dozens of merg­ers and SPAC deals, in­clud­ing sev­er­al in the bio­phar­ma sec­tor, the SEC al­leged Wednes­day.

Jose Luis Casero Sanchez, a 35-year-old Span­ish na­tion­al work­ing in Poland, en­gaged in in­sid­er trad­ing by mak­ing at least 45 il­lic­it trades re­lat­ed to the merg­ers of AM­AG Phar­ma­ceu­ti­cals, Viela Bio, Roivant Sci­ences and oth­ers, ac­cord­ing to the SEC’s com­plaint. In all, Sanchez al­leged­ly made more than $471,000 in il­le­gal prof­its, plac­ing trades ahead of merg­er an­nounce­ments he knew would af­fect a com­pa­ny’s stock price.

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