Google engineer charged with insider trading for using company data to profit $1.2M on Polymarket
By
Kali Hays
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Summary
A Google employee, Michele Spagnuolo, has been arrested and charged by US federal prosecutors for allegedly using his internal access to company information to place profitable bets on the prediction platform Polymarket, making approximately $1.2 million. The charges, brought by the US Attorney for the Southern District of New York, allege that Spagnuolo broke insider trading laws by leveraging non-public information to gain an unfair advantage on the betting platform. Spagnuolo, an Italian citizen and longtime Google engineer, faces legal proceedings in New York.
Key quotes
· 3 pulledA Google employee has been arrested for allegedly using his access to company information to successfully place lucrative bets on the prediction platform Polymarket.
The US Attorney for the Southern District of New York said it had charged Michele Spagnuolo, a Google engineer, with breaking insider trading laws because of several bets he placed through the platform.
Although Spagnuolo is an Italian citizen who li
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