Former Bank Vice President And Friend Charged In Insider Trading Securities Fraud Scam | USAO-NDCA

 Former Bank Vice President And Friend Charged In Insider Trading Securities Fraud Scam | USAO-NDCA

SAN FRANCISCO – Former Silicon Valley Bank vice president Mounir Gad has agreed to plead guilty to two counts of securities fraud in connection with a scheme to profit by sharing material non-public information regarding the acquisition of companies.  The announcement was made by Acting U.S. Attorney Stephanie M. Hinds and Federal Bureau of Investigation Special Agent in Charge Craig D. Fair.

The Office of the United States Attorney filed an information earlier today charging Gad, 34, of San Jose, and Nathan Guido, 38, of San Jose, with the crimes.  According to the information, Gad was a trained investment banking professional who repeatedly received training and guidance about the proper use of material non-public and confidential information.  Gad also allegedly received and knew about the prohibitions against the improper use of such information including how the use of such information for personal gain may violate the…

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