A federal judge has dismissed the remaining charges against a former JPMorgan Chase investment banking analyst accused of engaging in an insider trading scheme, after a jury in February largely acquitted him.
Reuters reports that U.S. District Judge Terry Hatter in Los Angeles on Monday dismissed four counts of insider trading and tender offer fraud pending against Ashish Aggarwal, who previously worked at J.P. Morgan Securities LLC in its San Francisco office.
The decision, which was confirmed by lawyers for Aggarwal, came after a jury in February found him not guilty of 26 of 30 counts he faced. His lawyers argued the jury had already determined Aggarwal did not intend to commit the charged crimes.
"We are pleased that the court, in granting our motion, agreed with us that the government's case could not proceed, and correctly put an end to this prosecution," Aggarwal's lawyers, Grant Fondo and Derek Cohen, said in a joint statement.
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