SEC accuses Wells Fargo analyst of insider trading

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U.S. securities regulators on Monday accused a former Wells Fargo analyst of engaging in an insider trading scheme that enabled her then-boyfriend to make over $220,000.

Reuters reports that in a lawsuit filed in federal court in Boston, the U.S. Securities and Exchange Commission said Shirmila Doddi, the analyst, tipped Vlad Spivak off to a deal involving a dental practice management company in 2011.

The SEC said Spivak, 39, had been unemployed and supported himself day trading when he bought shares in American Dental Partners Inc ahead of its $398m acquisition by private equity firm JLL Partners.

The SEC said Spivak learned that the company was going to be involved in a deal from Doddi, who became his romantic partner after meeting him salsa dancing.

To access the complete Reuters article hit the link below:

SEC says ex-Wells Fargo analyst tipped boyfriend to dental deal

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