U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21730 / November 4, 2010
Securities and Exchange Commission v. Igor Poteroba, Aleksey Koval, Alexander Vorobiev, and Relief Defendants Tatiana Vorobieva and Anjali Walter, Civil Action No. 10-civ-2667 (AKH)
Relief Defendant Wife of Securities Professional Agrees to Disgorge Profits from Husband’s Alleged Insider Trading
The Securities and Exchange Commission announced that on November 2, 2010, the Honorable Alvin K. Hellerstein of the United States District Court for the Southern District of New York entered a judgment against Relief Defendant Anjali Walter (“Walter”). Without admitting or denying the allegations contained in the Commission’s complaint, filed March 24, 2010 in the district court, Walter consented to and is ordered to pay $85,353 in disgorgement of illegal proceeds gained from an insider trading ring involving two securities professionals, one of whom is Aleksey Koval (“Koval”), Walter’s husband, a defendant in the action.
The Commission’s complaint alleges that from at least July 2005 through February 2009, Igor Poteroba, an investment banker with UBS Securities LLC, misappropriated highly confidential inside information from his employer about eleven impending acquisitions, tender offers, or other business combinations. Poteroba tipped Koval, another securities professional, who then traded securities on the basis of the tipped information. The Commission also alleged that Koval, in turn, tipped defendant Alexander Vorobiev, who also traded on the material, nonpublic information. Concerning Walter, the complaint asserts that Koval deposited proceeds from the illegal insider trading scheme in Walter’s account, and, in advance of at least one transaction on which he had been tipped by Poteroba, he effected trades directly in her account.