James Dunham, Mail and Wire Fraud, Boston MA, 2023

BOSTON – Connecticut’s James Dunham, 59, was hauled into court today, accused of selling hush-hush financial data from the wireless industry to a Boston analyst. The former COO is charged with mail fraud and wire fraud.

Dunham, who once presided over sales, compensation, and product launches at a major retailer’s 400 locations, was allegedly pocketing $2,000 monthly for his inside knowledge. His secret consulting gig spanned over three years, unbeknownst to his employer.

The feds claim Dunham’s clandestine info fed into seven research notes that hit the market, causing a single-day stock plunge of 7% in a smartphone manufacturer after a false alarm about product returns outpacing sales.

“The sale of confidential business information is a betrayal of trust and illegal,” said U.S. Attorney Carmen M. Ortiz. “Dunham’s actions undermine market credibility for personal gain.”

FBI Special Agent in Charge Vincent B. Lisi echoed the sentiment: “No one is above the law, and we’ll root out corporate fraud wherever it exists.” Dunham faces up to 20 years in prison if convicted.

The investigation was a joint effort between the FBI and the Securities & Exchange Commission, with Assistant U.S. Attorney Sarah E. Walters leading the prosecution. The defendant is presumed innocent until proven guilty.