FORMER INVESTMENT ADVISER PLEADS GUILTY IN MANHATTAN FEDERAL COURT TO INSIDER TRADING AND FORFEITS OVER $1.4 MILLION

Lawfuel.com – US Law Newswire – PREET BHARARA, the United States Attorney for the Southern District of New York, announced that ALEXEI P. KOVAL, a/k/a “Aleksey Koval,” pled guilty today to conspiracy and securities fraud charges in connection with his participation in an insider trading scheme. KOVAL obtained inside information from his co-conspirator, IGOR POTEROBA, a former investment banker in the Healthcare Group of UBS Securities LLC (“UBS”), and then traded on that information. The information related to six mergers and acquisitions that certain UBS clients were contemplating. KOVAL pled guilty in Manhattan federal court before U.S. District Judge PAUL A. CROTTY.

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