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Former Richmond Fed official pleads guilty to insider trading
By Ken Silva
Headline USA, Charlotte, North Carolina
Monday, November 25, 2024
A former official for the Federal Reserve Bank of Richmond pled guilty last week to insider trading after he was caught misappropriating confidential information to execute trades.
The defendant, Robert Brian Thompson, 43, of Mosley, worked as a bank examiner and senior manager with supervisory duties for the Federal Reserve, giving him access to confidential information about financial institutions under the Fed's supervision, including confidential supervisory information.
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According to the Justice Department, Thompson used confidential information from his workplace to execute 69 trades in seven publicly traded financial institutions for a total of $771,678 from October 2020 through February 2024.
To conceal the scheme, Thompson lied on his "Form D" -- which, among other things, requires employees to disclose if they have any assets, including any equity interest in any banks that are members of the Federal Reserve system. ...
... For the remainder of the report:
https://headlineusa.com/ex-federal-reserve-official-pleads-guilty-to-insider-trading/
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