REUTERS Four found guilty in insider trading case linked to U.S. health agency

Four found guilty in insider trading case linked to U.S. health agency

https://www.reuters.com/article/us-usa-crime-healthcare/four-found-guilty-in-insider-trading-case-linked-to-u-s-health-agency-idUSKBN1I42P4

NEW YORK (Reuters) - Two partners at the hedge fund Deerfield Management and two others were found guilty on Thursday of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency.

Assistant US Attorney Joshua Naftalis presents case to jury

Rob Olan and Ted Huber, partners at Deerfield Management who are on leave, were convicted of counts including wire fraud, securities fraud and conversion of government property, as was David Blaszczak, founder of political consulting firm Precipio Health Strategies.

Christopher Worrall, who worked for the U.S. Centers for Medicare and Medicaid Services (CMS), was also convicted of wire fraud and conversion of government property, but acquitted of securities fraud. The verdict was handed down by a jury in Manhattan federal court after nearly four days of deliberations, following a four-week trial.

Ted Huber defense attorney,  Barry Berke presents defense case to jury.
Lawyers for Huber and Worrall had no immediate comment. Lawyers for Olan and Blaszczak could not immediately be reached. A Deerfield spokesman declined to comment.





This case is being handled by the Office’s Securities and Commodities Fraud Task Force.  Assistant U.S. Attorneys Brooke Cucinella, Ian McGinley, and Joshua A. Naftalis are in charge of the prosecution.