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Insider Passed Tips so Friend Could ‘Make a Killing,’ U.S. Says

Jan. 14, 2020, 5:01 AM

There are no emails or phone recordings that directly incriminate a man with passing secret information from his corporate-director dad to a Greek businessman, but U.S. prosecutors say there’s enough evidence for a jury to convict him.

Telemaque Lavidas, 39, is charged with passing market-moving secrets to his friend, restaurateur Georgios Nikas, who’s allegedly at the center of a three-continent insider-trading ring. Lavidas got the information from his father, Athanase, a former board member of Ariad Pharmaceuticals Inc., according to prosecutors.

“The defendant’s father had secret corporate information,” Assistant U.S. Attorney Richard Cooper told jurors during his closing argument...

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