Federal prosecutors recently unsealed a superseding indictment charging eight foreign nationals with participating in a large-scale global insider trading scheme that allegedly generated tens of millions of dollars in illegal profits. According to court documents, the defendants—who hail from France, the United Arab Emirates, Germany, Singapore, Hong Kong, and other countries—are accused of trading on material non-public information (MNPI) connected to major corporate transactions and financial announcements between 2016 and 2024. The alleged leaders of the network, Samy Fadi Khouadja, Eamma Safi, and Zhi Ge, reportedly recruited investment bankers and corporate insiders to provide confidential business information, which was then used to execute profitable securities trades around the world.
Prosecutors say the defendants built a web of traders operating across the United States, Europe, the Middle East, and Asia, utilizing encrypted messaging apps, burner phones, coded language, and shell companies to avoid detection. Members of the network allegedly agreed to return a percentage of their profits to the leaders through disguised payments such as sham invoices and cash transfers. The scheme allegedly involved trading ahead of more than a dozen major corporate announcements, and even leaking confidential data to journalists to help manipulate market activity. Authorities emphasize that the group took extensive steps to evade regulators, believing their communications and concealment tactics placed them beyond the reach of law enforcement.
All eight defendants are charged with conspiracy to commit securities fraud, securities fraud, and money laundering conspiracy. Safi and Ge face additional money laundering charges. One defendant is already in U.S. custody, another is being held in Singapore pending extradition, while others remain fugitives. The case represents a significant effort by the U.S. Attorney’s Office in Boston, the FBI, the SEC, and international partners to protect market integrity and pursue complex international financial crime.
Individuals convicted of securities fraud face severe federal penalties. Each count of conspiracy to commit securities fraud and securities fraud carries potential sentences of up to 25 years in federal prison, five years of supervised release, and fines of up to $5 million or twice the financial gain. Money laundering conspiracy carries penalties of up to 20 years in prison, significant fines, and additional supervised release. Beyond criminal consequences, those accused of insider trading may also face civil penalties, asset forfeiture, and lifetime bans from the financial industry. Anyone facing similar allegations should seek experienced criminal defense counsel immediately to protect their rights and begin building a strategic defense.
A dedicated lawyer can help identify the elements required to prosecute a case of money laundering, and best defend their client.
Call our white collar crimes lawyers in Boston today at (617) 880-6155 and schedule a free consultation to find out how we can help.
