FAST FIVE: Supreme Court To Take A Second Look At Case Involving "Insider Trading" On Government Healthcare Tip
Supreme Court To Take A Second Look At Case Involving “Insider Trading” On Government Healthcare Tip The Supreme Court is taking a second look look at several men who were convicted of wire fraud, insider trading and conversion of government property in a 2018 insider trading case involving what are being called “government secrets”.
It centers around Blaszczak giving two hedge funds advance notice of coming government reimbursement rates.
A jury had found that he provided “tips he picked up from ex-colleagues who were still in government”.
The government source was Christopher Worrall, his friend at the time. Blaszczak turned around and gave the tips to Robert Olan and Theodore Huber, who were partners with Deerfield Management at the time.
Everyone but Worrall was convicted of insider trading and all of the men were convicted of wire fraud and conversion of government property.