Story perspectives

Boston Charges 30, Including Lawyers, in $84B Insider Scheme

5/8/2026

Summary

Boston Prosecutors Charge

Boston prosecutors charged 30 people, including lawyers, in an insider-trading scheme.
Nineteen suspects were arrested while participants remain fugitives in Russia and Israel.
Nicolo Nourafchan and Robert Yadgarov recruited lawyers to sell merger tips for kickbacks of hundreds of thousands of dollars, earning profits from Cigna’s $54 billion Express Scripts purchase and Johnson & Johnson’s $30 billion Actelion takeover, and concealing the scheme with burner phones, encrypted apps and shell companies.

Summary

Gershowitz Facing Prison

Prosecutors have recommended a two-year prison sentence for Gabriel Gershowitz because he cooperates.
He must forfeit $37,000, the profit prosecutors say he earned.
Willkie said his conduct breached its compliance policies, which Weil, Gotshal & Manges called extremely serious.
The SEC filed a civil complaint seeking additional penalties and disgorgement from the participants.
Gershowitz tipped deals at Weil, Gotshal & Manges, DLA Piper and Willkie from 2019-2024.

1 of 2

Boston Prosecutors Charge

Boston prosecutors charged 30 people, including lawyers, in an insider-trading scheme.
Nineteen suspects were arrested while participants remain fugitives in Russia and Israel.
Nicolo Nourafchan and Robert Yadgarov recruited lawyers to sell merger tips for kickbacks of hundreds of thousands of dollars, earning profits from Cigna’s $54 billion Express Scripts purchase and Johnson & Johnson’s $30 billion Actelion takeover, and concealing the scheme with burner phones, encrypted apps and shell companies.

1 / 2