The Securities and Exchange Commission sued Romero Cabral da Costa Neto for insider trading, alleging he used his position at a US-based global law firm to access and trade on confidential information about a biopharmaceutical company.
The complaint doesn’t list the firm by name.
Costa, a 33-year-old attorney licensed in Brazil who had been working as an international visiting attorney, was arrested on Aug. 22 in Washington, D.C., by agents with the FBI’s Washington Field Office, the Department of Justice said Wednesday.
The SEC alleges that, beginning in May, Costa generated over $42,000 in illicit profits by trading on the ...
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