AI startup CEO Arya Bolurfrushan pleads guilty to insider trading scheme involving law firm tips
By
WATCH LIVE
Summary
Arya Bolurfrushan, founder and CEO of Abu Dhabi-based AI startup AppliedAI and former Goldman Sachs banker, secretly pleaded guilty in June 2025 to participating in a vast insider trading scheme where attorneys at major law firms tipped traders about mergers their firms were advising on. He struck a deal with federal prosecutors in Boston who are building cases against dozens of others involved in the long-running scheme. Court records were unsealed on Monday revealing the guilty plea.
Source
bskyAI startup CEO Arya Bolurfrushan pleads guilty to insider trading scheme involving law firm tipscnbc.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 were working to build cases against dozens of other people accused of participating in the long-running insider trading scheme.
You might also wanna read
Sam Altman testifies in federal trial against former OpenAI co-founder Elon Musk
OpenAI CEO Sam Altman has begun testifying in a California federal jury trial against Elon Musk. Altman, along with OpenAI president Greg Br
The Verge·1mo ago
Elon Musk's lawsuit against Sam Altman and OpenAI heads to trial in April
Elon Musk's 2024 lawsuit against Sam Altman and OpenAI is heading to trial starting April 27th. Musk, a cofounder of OpenAI, accuses Altman
The Verge·1mo ago
New Testimony Sheds Light on Sam Altman's 2023 OpenAI Ousting and Reinstatement
The article examines the November 2023 ousting and subsequent reinstatement of OpenAI CEO Sam Altman, focusing on new testimony from cofound
The Verge·8mo ago
Key evidence revealed in Musk v. Altman trial over OpenAI's origins and future
The article details evidence unveiled in the Musk v. Altman trial, including email exchanges, photos, and corporate documents from OpenAI's
The Verge·2mo ago
OpenAI's former CTO Mira Murati testifies Sam Altman lied about AI safety protocols
Mira Murati, OpenAI's former CTO, testified under oath that CEO Sam Altman lied to her about safety standards for a new AI model. In a depos
The Verge·2mo ago
Elon Musk's lawsuit against Sam Altman and OpenAI heads to trial in April
Elon Musk co-founded OpenAI but left after not being made CEO. He is now suing Sam Altman and OpenAI, with a trial set for April 27th in Oak
The Verge·2mo ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.