Jeffrey Rogiers, Insider Trading, New York 2017
California Man Pleads Guilty to Insider Trading Scheme Based on Confidential Information Misappropriated from An Investment Bank
A California man has been convicted of his role in an insider trading scheme that resulted in illicit profits of more than $5 million through trading in more than two dozen securities. Jeffrey Rogiers, a computer and network security analyst from California, pleaded guilty to conspiracy to commit securities fraud and fraud in connection with a tender offer.
According to the allegations, Rogiers received material nonpublic information from a former employee at an investment bank who had access to an internal, proprietary system containing information about potential and unannounced merger and acquisition transactions. The employee, Daniel Rivas, had a duty to maintain the confidentiality of the information, but he repeatedly misappropriated it and passed it along to friends, including Rogiers.
Rogiers, along with Michael Siva, Roberto Rodriguez, Rodolfo Sablon, and Jhonatan Zoquier, was arrested and charged in a 54-count indictment for their involvement in three overlapping insider trading chains. Since the unsealing of the indictment, Sablon and Zoquier, in addition to Rogiers, have pleaded guilty and will be sentenced by Judge Alison J. Nathan.
The investigation revealed that Rivas and Zoquier had a close relationship, and Rogiers lived and worked in California while Zoquier lived and worked in New Jersey. Zoquier introduced Rivas to Rogiers in 2013, and they met in person in 2015.
The insider trading scheme was carried out through three tipping chains, with Rivas providing information to friends who used it to purchase and sell securities. The scheme resulted in illicit profits of more than $5 million through trading in more than two dozen securities.
Rogiers is scheduled to be sentenced by Judge Nathan. He faces prison time and a fine for his role in the insider trading scheme.
Mandatory Facts:
Defendant: Jeffrey Rogiers
Criminal Charges: Conspiracy to commit securities fraud and fraud in connection with a tender offer
City and State: New York
Crime Date: August 2017
Sentence: Pending
Dollar Amount: $5 million
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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