In United States v. Trovias, in a first of its kind prosecution, the Southern District of New York (SDNY) brought an insider trading case against Apostolos Trovias for selling inside information on the Dark Web.
First Dark Web Insider Trading Case Shows Government Active In Policing Tech
In a first of its kind prosecution, the Southern District of New York brought an insider trading case against defendant for selling inside information on the Dark Web. The SEC also brought a civil regulatory action against the defendant for the same conduct. In a rare move, however, SDNY and SEC charged this same conduct under different insider trading statutes. This difference underscores the legal complexities involved when the origin of inside information in the digital world is unknown.
By
Ian McGinley
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