On April 13, John Afriyie, a former analyst at a Manhattan-based private investment fund (the “Fund”), was arrested and charged with insider trading.  Afriyie is alleged to have used the Fund’s network server to obtain material nonpublic information about a potential acquisition of ADP Corporation by Apollo Investment Management LLC.  The Fund had this information because it was discussing whether to provide debt financing to Apollo for the potential acquisition, and the Fund had entered into a non-disclosure agreement with Apollo in connection with that potential transaction.  Afriyie is alleged to have used the information to execute 28 separate transaction between January 28 and February 12, 2016 through a brokerage account in his mother’s name, which he controlled.  Afriyie is alleged to have earned at least $1.52 million in realized and unrealized profits from the alleged insider trading.  Additionally, the SEC has filed civil charges based on Afriyie’s alleged conduct.  U.S. v. Afriyie, 16-mj-02423 (S.D.N.Y.).  DOJ Press Release