Ex-OppenheimerFunds worker pleads guilty to insider trading

Published December 15, 2021 4:08 PM

NEW YORK (AP) — A former OppenheimerFunds analyst has pleaded guilty to a securities fraud charge alleging he used company secrets to collect over $8 million in illegal profits. Sergei Polevikov entered the plea Wednesday in Manhattan federal court. In a release, U.S. Attorney Damian Williams says Polevikov will forfeit the over $8 million he earned illegally. Prosecutors say he tried to conceal his scheme from his employer by lying about his trading activities while he worked there from 2014 through October 2019.

Article Topic Follows: AP National Business

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