Ex-OppenheimerFunds worker pleads guilty to insider trading

KIFI

Published December 15, 2021 3:08 PM

NEW YORK (AP) — A former OppenheimerFunds analyst has pleaded guilty to a securities fraud charge alleging he used company secrets to collect over $8 million in illegal profits. Sergei Polevikov entered the plea Wednesday in Manhattan federal court. In a release, U.S. Attorney Damian Williams says Polevikov will forfeit the over $8 million he earned illegally. Prosecutors say he tried to conceal his scheme from his employer by lying about his trading activities while he worked there from 2014 through October 2019.

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