The Securities and Exchange Commission said it’s now charging a research analyst with insider trading after the man allegedly fled the U.S. and is now hiding in Hong Kong.
On Wednesday, the SEC added the name of Trent Martin, to a complaint of insider trading involving shares of SPSS, which was acquired in 2009 by IBM.
According to the SEC, Martin, who spent a little time in Stamford, told his roommate, a Connecticut-based broker Thomas Conradt, about the IBM acquisition after learning about it from an Australian attorney who was working on the deal. The men allegedly shared the news with pals and profited off of it by buying shares of SPSS before the merger announcement. Conradt was already charged.
Martin, an Aussie, fled to his native country and then on to Hong Kong, the SEC claims.