Swiss Trader Emerges in U.S. Insider Trial After Secret Plea (2)

Jan. 8, 2020, 9:37 PM

A mysterious Swiss trader tied to an international insider-trading network told New York jurors he made about $70 million from illegal tips from sources on three continents and that he sometimes shared the information with others -- for a price.

Marc Demane Debih, who already has pleaded guilty to dozens of insider-trading charges, testified Wednesday as the key government witness against Telemaque Lavidas, the first U.S. defendant to be tried for alleged involvement in a broad conspiracy the government has been probing since 2013.

Lavidas is charged with telling a friend, Georgios Nikas, about market-moving information he got from his ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.