Bloomberg Law
Jan. 11, 2021, 2:41 PMUpdated: Jan. 11, 2021, 3:28 PM

SCOTUS Remands Insider Trading Convictions to 2d Cir. (Correct)

Jennifer Bennett
Legal Reporter

An ex-Medicare official nicknamed the “King of Political Intelligence” and two other men he tipped to reimbursement rate changes convinced the U.S. Supreme Court Monday to send their insider trading convictions back for a second look by a lower court.

David Blaszczak, Robert Olan, and Theodore Huber asked the high court to weigh in on whether confidential government information about a planned regulation counts as “property” or a “thing of value” under fraud and conversion statutes, something they called “unprecedented.” The high court granted, vacated, and remanded their petitions.

Blaszczak, the former official turned Washington consultant, was sentenced to a ...

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