On June 3, David Hobson, who served as an investment advisor at a major broker-dealer, was arrested on charges of insider trading.  Between 2008 and 2014, Hobson allegedly traded on inside information about a pharmaceutical client, a company that employed his friend, coconspirator, and cooperator Michael Maciocio.  Maciocio has already pled guilty and admitted his participation in the scheme in which he would share inside information about potential acquisitions and transactions with Hobson, and Hobson, in turn, would use the information to execute profitable securities trades for himself, Maciocio, and other clients.  From the illicit arrangement, Hobson made approximately $180,000 for himself, $40,000 for Maciocio, and nearly $150,000 for his clients.  The indictment charged Hobson with one count of conspiracy to commit securities fraud, one count of conspiracy to commit wire fraud, and two counts of securities fraud.  United States v. Maciocio, 16-cr-351 (S.D.N.Y.). DOJ Press Release