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Insider Trial Opens With Claim Fugitive Banker Was Tipster (1)

Jan. 7, 2020, 3:47 PM

The son of a pharmaceutical company CEO claims a fugitive London investment banker was the real source of insider tips he’s charged with passing to a Greek businessman, who used the information to make millions of dollars in trades.

The illegal trades were the result of information about Ariad Pharmaceuticals Inc. provided by a former Centerview Partners investment banker, according to Jonathan Streeter, a lawyer for Telemaque Lavidas.

“The wrong man is on trial here,” Streeter told a jury Monday at the start of Lavidas’s trial in Manhattan federal court on insider-trading charges.

Prosecutors allege Lavidas got tips about...

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