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(Reuters) – (This July 25 story corrects to change lead image)
Federal prosecutors in Manhattan on Monday charged a former FBI agent-in-training with insider trading on information he allegedly stole from his then-girlfriend, a corporate law firm associate who was working on confidential matters at home due to the pandemic.
Seth Markin last year secretly took information from the associate’s apartment about her client Merck & Co.’s pending $1.85 billion acquisition of Pandion Therapeutics, prosecutors said. Mankin and co-defender Brandon Wong then made more than $1.4 million trading illegally on Pandion shares, according to a 25-page indictment.
An attorney for Markin did not respond to a request for comment on the charges. Edward Kim of New York-based Krieger Kim & Lewin, who represents Wong, declined to comment.
The associate was not named in the indictment, which referred to her employer only as a major Washington, DC, law firm. A spokesperson for Washington-based Covington & Burling, which represented Merck in the Pandion deal, did not respond to a request for comment.
A spokesperson for the Manhattan US attorney’s office had no immediate comment. Merck said in a statement that it is cooperating with the US attorney’s office.
The US Securities and Exchange Commission on Monday also filed insider trading charges against Markin and Wong.
After the Merck deal was made public, Wong used $1.3 million he made from selling Pandion shares to