On May 4, 2018, four defendants were convicted of trading on confidential nonpublic government information, following a four-week jury trial. As part of defendants’ insider trading scheme, Christopher Worrall, an employee of the Centers for Medicare and Medicaid Services, provided confidential information to David Blaszczak, a political intelligence consultant. Blaszczak then passed this information along to several employees at Deerfield Management Company, a hedge fund that retained Blaszczak as a consultant during the relevant time period. Blazsczak also passed this information to Christopher Plaford, a trader at another hedge fund, Visium Asset Management. The trades executed on the basis of Blaszczak’s illegally obtained information generated more than $7 million in profits for Deerfield and about $330,000 in profits for Visium.
United States v. Blaszczak, 17-cr-00357 (S.D.N.Y.)