{
  "id": 2703130,
  "title": "SEC charges former Bank of America investment banker with insider trading",
  "url": "https://urgent.news/2026/08/21/sec-charges-former-bank-of-america-investment-banker-with-insider-2703130",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T20:24:13.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/sec-charges-former-bank-america-202413058.html"
  },
  "original_language": "en",
  "account": "The U.S. Securities and Exchange Commission has charged former Bank of America investment banker Jason Satsky with insider trading, alleging he shared confidential information about a potential merger with a friend and former colleague Gavin Wolfe. Satsky, who was co-head of Americas power and renewable energy banking at Bank of America, supposedly tipped Wolfe about the acquisition of South Jersey Industries, an energy company, in late 2021. Wolfe, who has been friends with Satsky for over 20 years, bought over 2.2 million shares of South Jersey Industries worth approximately $53 million, realizing a 36% gain after the company announced an $8.1 billion buyout on February 24, 2022. The SEC claims their friendship allowed Satsky to provide Wolfe with nonpublic information, leading to Wolfe's unlawful profits. Satsky, 59, denies the charges and believes the evidence will prove his actions were legal. His lawyer stated Satsky did not provide Wolfe with material nonpublic information regarding the merger. Wolfe, 55, also denies the allegations, asserting he bought the shares based on his own investment thesis. Both men categorically deny the SEC's claims and vow to vigorously defend themselves. Bank of America terminated Satsky in March 2022, and the SEC did not accuse the bank of any wrongdoing.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "SEC charges former Bank of America investment banker with insider trading",
        "url": "https://urgent.news/2026/08/21/sec-charges-former-bank-of-america-investment-banker-with-insider",
        "published": "2026-08-21T20:27:27.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}