Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • Swissquote UK CEO Federico Cirulli resigns forex news
  • eToro data shows Bitcoin holds top spot among most traded cryptos forex news
  • Cboe Options introduces automation for index “combo” orders forex news
  • Exclusive: ADSS UK Revenues down 38% in 2020 amid management turnover forex news
  • SEC wants BTIG to drop claims about disgorgement of ill-gotten gains forex news
  • LME announces passing of former Chairman, Sir Brian Bender KCB forex news
  • Traders challenge ruling in favor of Robinhood in short squeeze lawsuit forex news
  • SIX acquires ULTUMUS forex news

SEC warns ex-Goldman analyst accused of insider trading violates Court orders

Posted on 2021-10-13 By admin No Comments on SEC warns ex-Goldman analyst accused of insider trading violates Court orders

About a fortnight after the United States Securities and Exchange Commission (SEC) brought insider trading charges against former Goldman compliance analyst Jose Luis Casero Sanchez, the regulator has warned the Court that the defendants in this case are dissipating assets in violation of Court orders.

Let’s recall that the lawsuit was launched on September 29, 2021. The SEC charged Sanchez, a Spanish national and former Senior Compliance Analyst who worked in the Warsaw, Poland office of Goldman, with insider trading in advance of at least 45 corporate events involving the investment bank’s clients. The SEC has obtained an emergency court order to freeze Sanchez’s assets, including certain accounts he used to place the illicit trades.

To avoid detection, Sanchez allegedly traded in multiple U.S.-based brokerage accounts held in the name of one of his parents—Jose Luis Casero Abellan and Maria Isabel Sanchez Gonzalez.

On October 12, 2021, the SEC filed a letter in the New York Southern District Court stating that the defendants are trying to liquidate and withdraw certain assets in violation of the Court’s Order.

On September 29, 2021, the Commission informed Schwab, Tastyworks, and Bitstamp that the Court had ordered any assets of the defendants to be frozen. The next day, September 30, one or more of the Defendants accessed accounts at each of those entities and attempted—in some instances, successfully—to liquidate existing positions and withdraw funds subject to the Court’s asset freeze.

In particular, on September 30, between approximately 9:12 a.m. and 11:30 a.m. ET, the Schwab brokerage account, held in Abellan’s name, was accessed, all existing positions in that account were liquidated to cash, cash withdrawal requests were initiated, and approximately $746 was withdrawn before Schwab froze the remaining assets.

Also on September 30, between approximately 9:42 a.m. and 10:07 a.m. ET, the Tastyworks brokerage account, held in Gonzalez’s name, was accessed and requests to liquidate certain existing positions in that account were initiated. However, Tastyworks prevented the trades from being executed.

That same day, at approximately 1:33 p.m. ET, the Bitstamp digital asset account, owned by Sanchez, was accessed and all existing positions in that account were liquidated to cash. The next day, October 1, all cash was withdrawn from the Bitstamp account.

The SEC warns that this recent activity in these accounts, beginning the morning after the Court’s Order freezing assets in those accounts, is evidence probative of the defendants’ knowledge of this action and their attempts to circumvent the Court’s Order.

According to the regulator, the defendants are in default of the Order. The defendants have also failed to respond to any of the Commission’s expedited discovery requests seeking additional evidence for the purposes of the preliminary injunction hearing.

And, defendants’ recent activity attempting to liquidate and dissipate or divert the assets in their frozen accounts strongly supports the continuing need for the asset freeze in order to maintain the status quo pending resolution of this case, the SEC says.

In the alternative, the Commission requests that the Court hold any hearing on the Commission’s application for a preliminary injunction telephonically.

forex news Tags:forex-news

Post navigation

Previous Post: European authorities take down fraudulent binary options network
Next Post: StanChart partners with Atome Financial on mobile-first fin services in Asia

Related Posts

  • Credit Suisse income benefits from Archegos-related impact in Q3 2021 forex news
  • Exclusive: GCEX hires former ActivTrades and Oval exec Juan Scarabino as CRO forex news
  • FP Markets expands Bonds, Crypto CFDs, Commodities and Equities offering on MT4/MT5 forex news
  • Exclusive: ADSS departures continue – Heads of Compliance and Front Office leave forex news
  • Tradeweb introduces Trade at Close functionality for electronic portfolio trading forex news
  • UK watchdog slams crypto platform Ziglu ad as misleading forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • IG hires Barbara Duffy as Chief People Officer forex news
  • Charles Rozes buys 4,000 shares in IG Group forex news
  • Atom Bank closes £75M financing round led by BBVA, Toscafund and Infinity forex news
  • Frankfurt Exchange adds Deutsche Borse Cash Market head Eric Leupold to its Management Board forex news
  • Interactive Brokers reports 11% Y/Y rise in commission revenue in Q4 2021 forex news
  • Exclusive: Rostro adds John Williams from Equiti Capital as CIO forex news
  • Interactive Brokers enhances Events Calendar in TWS platform forex news
  • TP ICAP adds Jane Street and Virtu as liquidity providers for crypto platform forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme