Recent Stock Manipulation Scheme Involves Former Government Employees
The SEC recently announced charges against a former government employee: David Balszczak who obtained and provided inside non-public information to a healthcare focused hedge fund in a scheme from 2012 to 2014 that is said to have generated 3.5 Mill in illegal profits. The inside information included confidential information obtained from Department Of Health (where Balszczak used to work) related to medicare and medicaid regulation/policy changes. Also included in the indictment was another former employee of the Department Of Health and 3 individuals from Deerfield Management, the hedge fund working with Balszczak.
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