Overview
- The Justice Department, which unsealed two indictments Wednesday, said it charged 30 people and arrested 19 across Los Angeles, Fort Lauderdale and New York, as the SEC filed a parallel civil case.
- Two defendants located in Russia and Israel are being treated as fugitives according to federal authorities.
- Prosecutors identify attorneys Nicolo Nourafchan and Robert Yadgarov as central figures who allegedly accessed law‑firm systems, recruited other lawyers as tipsters and paid cash, with charges that include securities fraud, conspiracy, money laundering and obstruction.
- Charging papers describe tradecraft such as burner phones, encrypted apps and coded terms like “flights” and “rabbi,” plus shell companies and foreign accounts in places like Panama and Switzerland to move kickbacks.
- The alleged scheme touched nearly 30 mergers, including Amazon’s attempted purchase of iRobot and large deals like Occidental–Anadarko and J&J–Actelion, and new filings show several defendants had already pleaded guilty and are cooperating as law firms named in coverage say they are victims and are assisting investigators.