"Meet Gabriel Gershowitz. A former Willkie Farr & Gallagher counsel, Gershowitz is one of the 30 people charged, but additional unsealed documents reveal he and eight others had already pleaded guilty and are cooperating with the government. Gershowitz isn't a mystery figure. The SEC identified him in its parallel civil suit as one of Nourafchan and Yadgarov's recruits, a college classmate of theirs who went on to Columbia Law School and subsequently worked at a number of large firms, including Weil Gotshal & Manges, DLA Piper, and Willkie Farr & Gallagher."
"The details of his alleged participation are specific and damning. While at Willkie, Gershowitz was staffed on the Enstar deal because his firm was advising Sixth Street on its roughly $5 billion acquisition of Enstar. He shared news of the deal with his former classmates, who told him a few days later they had purchased between $2 million and $3 million in Enstar shares. After the deal was announced, Gershowitz was allegedly due a $30,000 kickback (though he received a smaller amount because he owed Yadgarov money he'd borrowed for apartment renovations)."
"Due to his ongoing cooperation, prosecutors have agreed to recommend a sentence of two years for Gershowitz."
A decade-long insider trading ring centered on Nicolo Nourafchan led to charges against 30 people, including attorneys at major law firms. Additional unsealed documents revealed that some previously unnamed co-conspirators had already pleaded guilty and were cooperating with the government. Gabriel Gershowitz, a former Willkie Farr & Gallagher counsel, was identified by the SEC as a recruit connected to Nourafchan and Yadgarov. While at Willkie, Gershowitz worked on the Enstar deal tied to Sixth Street’s roughly $5 billion acquisition. He allegedly shared deal news with former classmates who purchased Enstar shares shortly afterward. After the announcement, he was allegedly owed a kickback, and prosecutors agreed to recommend a two-year sentence due to his cooperation.
Read at Above the Law
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