00:00It's Benzinga bringing Wall Street to Main Street
00:02A former Merrill Lynch banker was charged with co-leading a global insider trading ring that
00:07operated from his Paris restaurant and generated tens of millions of dollars from confidential
00:11deal information, according to Bloomberg. Federal prosecutors in Boston unsealed an
00:16indictment naming Sameifadi Khawaja and seven others. The indictment alleges that the group
00:21recruited bankers and corporate insiders to leak financial results and merger activity
00:26between 2016 and 2024. Prosecutors said members used burner phones, encrypted apps, coded
00:33language, shell companies, and fake invoices to hide the scheme and even fed tips to journalists
00:39to profit after publication. Khawaja is considered a fugitive. For all things money, visit Benzinga.com.
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