Global Insider-Trading Probe Lands Conviction of U.S. Leaker (1)

The son of a pharmaceutical-company director was convicted in New York of leaking company secrets to a close friend who prosecutors say was part of a global insider-trading network.

Telemaque Lavidas, 39, was the first U.S. defendant tried in connection with an insider scheme that generated tens of millions of dollars on illegal tips about drug companies from investment bankers and corporate insiders. Though Lavidas played a small role in the plot, his trial in Manhattan shed light on how a corrupt Swiss trader and others exploited contacts on three continents for market-moving information.

Lavidas was found guilty Wednesday ...