Saturday, 22 August, 2026
$18.5M Courtroom Clash: SEC Accuses Ex-Banker of High-Stakes Insider Tipping
By TechShots Studio
The U.S. Securities and Exchange Commission charged Jason Satsky, a former Bank of America investment banker, with insider trading. Regulators allege Satsky tipped long-time friend Gavin Wolfe about an impending $8.1 billion acquisition of South Jersey Industries in 2021. Wolfe allegedly bought $53 million in shares using the nonpublic information, netting $18.5 million in illegal profits. Both men deny the SEC’s allegations.