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SEC charges two former Wall Street bankers over $18.5 million insider trading scheme
Aug 22, 2026
< 1 min read
by Micah Abiodun
for CryptoPolitan
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The SEC charged two former Wall Street investment bankers with fraud over stock trades in South Jersey Industries made ahead of the company's February 24, 2022 takeover announcement, alleging insider trading; one defendant, Mr. Satsky, is 59 and formerly co‑led an energy and utility banking unit. The case underscores heightened regulatory scrutiny, market integrity and compliance risks for securities trading and could increase oversight expectations across security, crypto and DeFi markets.
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Two former Wall Street investment bankers were charged with fraud by the SEC on Friday following their stock trades in South Jersey Industries prior to the company’s February 24, 2022 takeover announcement. According to the lawsuit, Mr. Satsky, aged 59, was one of the heads of an energy and utility banking unit at the New...
