Polar Asset Trader Charged With $3.6 Million Fraud Scheme (3)

A trader at Canada’s Polar Asset Management Partners was charged with insider trading by U.S. prosecutors Friday.

Sean Wygovsky, 40, allegedly reaped $3.6 million from January 2015 through April 2021 by stealing confidential information to front-run his Toronto-based firm’s trades. Federal prosecutors in New York said Wygovsky used three close relatives and accounts in their names to conceal his activity. Those relatives kicked back to him at least hundreds of thousands of dollars in illegal trading profits, according to the government.

Wygovsky was arrested Friday morning in Austin, Texas, Manhattan prosecutors said in a statement. He’s being held temporarily ...