NEW YORK (AP) — A former OppenheimerFunds analyst pleaded guilty Wednesday to a securities fraud charge alleging he used company secrets to collect over $8 million in illegal profits.
Sergei Polevikov entered the plea in Manhattan federal court.
Afterward, U.S. Attorney Damian Williams said in a release that Polevikov will forfeit the over $8 million he earned illegally.
Prosecutors said he tried to conceal his scheme from his employer by lying about his trading activities while he worked there from 2014 through October 2019.
Sentencing was scheduled for April 12.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
