Federal Indictment Alleges BigLaw Attorneys Engaged in Insider Trading Scheme
Federal prosecutors have indicted several attorneys from prominent law firms for allegedly engaging in a large-scale insider trading scheme. The indictment claims that these lawyers used their access to confidential mergers and acquisitions (M&A) information to facilitate illegal trading activities. Key figures in the case include Nicolo Nourafchan, a New York-licensed attorney, who allegedly accessed sensitive deal materials and shared them with a network of traders in exchange for kickbacks. The scheme reportedly involved other attorneys, including Robert Yadgarov, and extended to traders in multiple U.S. states and overseas. The alleged activities spanned from March 2014 to August 2024, involving nearly 30 public-company M&A deals across various sectors. 
