M&A Lawyer Pleads Not Guilty to Leading Insider-Trading Ring

A former mergers and acquisitions lawyer with top firms including Latham & Watkins and Goodwin Procter pleaded not guilty to charges that he led a massive insider trading ring that made tens of millions of dollars in illegal profits.

Nicolo Nourafchan entered his plea Monday during a court appearance in federal court in Boston. His brother, Lorenzo Nourafchan, and more than a dozen other defendants also pleaded not guilty on Monday. Around 30 people have been charged with participating in the ring.

Nicolo Nourafchan arrives at the John Joseph Moakley United States Courthouse in Boston on June 1.

Photographer: Mel Musto/Bloomberg

According to two indictments, as well as a parallel suit filed by the Securities and Exchange Commission, ...