Former Goldman Sachs and Blackstone Analysts Face Insider Trading Charges

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Introduction:
In a significant legal development, U.S. prosecutors have filed criminal charges related to insider trading against former Goldman Sachs and Blackstone analyst Anthony Viggiano and two associates. The charges revolve around an alleged scheme to exploit nonpublic information concerning forthcoming mergers and strategic partnerships.

Inside the Scheme:
Anthony Viggiano’s Involvement

• Anthony Viggiano, a 26-year-old resident of Baldwin, New York, stands accused of providing insider information on at least eight distinct transactions that transpired between 2021 and 2023.
• This confidential data was shared with Christopher Salamone, a 35-year-old construction sales representative with a long-standing two-decade friendship with Viggiano, dating back to their shared upbringing on the same block.

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Chain of Insider Trading

• Viggiano further allegedly shared this sensitive information with his college friend, Stephen Forlano, aged 27, who disseminated the tips to others, including Nathan Bleckley, a 26-year-old U.S. Army captain.
• These illicit insider trades collectively yielded over $580,000 in illegal profits, with Christopher Salamone reaping $322,000 from the scheme, as documented in court records.

Cooperation and Charges:

• Christopher Salamone, residing in Long Beach, New York, has pleaded guilty to three counts of securities fraud and one count of conspiracy. Significantly, he is now cooperating with the ongoing investigation.
• In contrast, Anthony Viggiano faces nine securities fraud and conspiracy charges, while Stephen Forlano, based in Tampa, Florida, confronts four similar leaders.
• Additionally, all four individuals are confronted with related civil charges brought forth by the Securities and Exchange Commission, with Nathan Bleckley residing in Altus, Oklahoma.

Transactions at the Heart of the Case:

• Notable transactions encompassed by this case include the sale of a segment of American International Group’s (AIG) life and retirement unit to Blackstone, as well as the acquisition of satellite operator Maxar Technologies by private equity firm Advent International for approximately $6.4 billion, including debt, with Goldman Sachs serving as an advisor to Advent.

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A Diversionary Tactic Unveiled:

• The Securities and Exchange Commission has uncovered that Viggiano and Salamone invested in four additional defense companies as a diversionary tactic when acquiring Maxar securities. This maneuver appears to have been an effort to rationalize their actions by claiming they were acquiring defense stocks “in anticipation of a possible World War III.”

Legal Response and Commentary:

• U.S. Attorney Damian Williams in Manhattan stated that Viggiano had “betrayed the trust of his employers.”
• Viggiano’s legal representative, Steven Brill, declined to comment.
• Stephen Forlano, represented by attorney Michael Bachner, vehemently denies any wrongdoing and intends to contest the charges vigorously.
• Todd Spodek, legal counsel for Nathan Bleckley, emphasized his client’s dedication to the armed forces and the importance of doing what is right, expressing anticipation for the resolution of this chapter in Bleckley’s life.
• As of now, no immediate comment has been available from Christopher Salamone’s legal representative.

Professional Background:

• Worth noting is that Viggiano worked at Blackstone for approximately seven months and was employed at Goldman Sachs for over a year before his termination.

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