AI startup CEO Arya Bolurfrushan pleads guilty in insider trading scheme involving law firm tips
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CNA
Summary
The founder and CEO of Abu Dhabi-based AI startup AppliedAI, Arya Bolurfrushan (a former Goldman Sachs banker), secretly pleaded guilty in June 2025 to participating in a long-running insider trading scheme. The scheme involved attorneys at major law firms tipping traders about mergers their firms were advising on. Bolurfrushan struck a deal with federal prosecutors in Boston who are building cases against dozens of others involved in the scheme. Court records were unsealed on Monday revealing the guilty plea.
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bskyAI startup CEO Arya Bolurfrushan pleads guilty in insider trading scheme involving law firm tipschannelnewsasia.comKey quotes
· 3 pulledThe founder and chief executive of an AI startup secretly pleaded guilty last year to participating in a vast scheme in which attorneys at major law firms tipped traders about mergers their employers were advising on.
Arya Bolurfrushan, a former Goldman Sachs banker who founded Abu Dhabi-based AppliedAI, pleaded guilty in June 2025 after striking a deal with federal prosecutors in Boston
Federal prosecutors in Boston who were working to build cases against dozens of other people accused of participating in the long-running insider trading scheme.
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