"Prosecutors named the defendants as Samy Fadi Khouadja, 45, of France and the United Arab Emirates; Eamma Safi, 38, of the United Arab Emirates and Germany; Zhi Ge, 34, of Singapore; Christophe Dong, 41, of France; Julien Liu, 35, of France and Hong Kong; Patrick Chou, 38, of France and Hong Kong; Cheuk Yue Lee, 43, of Hong Kong; and Dev Ananth Durai, 39, of Singapore."
"According to prosecutors, Safi, Ge, and Khouadja led the network, which allegedly recruited investment bankers and corporate insiders to provide confidential financial and merger information. As part of the scheme, the men allegedly paid insiders for the tips, traded on the information, and passed it to traders in the U.S., Europe, the Middle East, and Asia, who also profited from it, according to officials."
Eight foreign nationals have been accused of participating in a global insider‑trading and money‑laundering conspiracy that allegedly generated tens of millions of dollars from 2016 to 2024. The defendants include nationals of France, Hong Kong, Germany, Singapore, and the United Arab Emirates. Safi and Ge were charged earlier in 2024 and later indicted by a federal grand jury; Safi is in U.S. custody and Ge is awaiting extradition, while other defendants are considered fugitives. Prosecutors allege leaders recruited investment bankers and corporate insiders, paid for confidential tips, traded on the information, passed tips to traders worldwide, leaked information to media to influence markets, and routed many trades through an automated Massachusetts trading platform. Traders allegedly paid kickbacks to leaders and investigators say those payments were disguised.
Read at Boston.com
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