{
  "id": 3382169,
  "title": "SEC charges 2 former investment bankers with insider trading",
  "url": "https://urgent.news/2026/08/24/sec-charges-2-former-investment-bankers-with-insider-trading-3382169",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T12:13:58.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/sec-charges-2-former-investment-121358946.html"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Commission has accused two former investment bankers of insider trading, the agency announced on Friday. Jason Satsky, a former senior investment banker from Bank of America, allegedly shared material nonpublic information about a potential acquisition of South Jersey Industries, Inc. with his friend and former colleague Gavin Wolfe. Wolfe, who had previously worked at Bank of America and Credit Suisse, purchased over 2.2 million shares of South Jersey stock, making roughly $18.5 million when the stock price increased following the acquisition announcement in February 2022. Wolfe is also alleged to have tipped others, who generated $515,000 in profits from the deal. Satsky is accused of breaching his duty of trust and confidence to Bank of America, South Jersey, and their shareholders by knowingly or recklessly communicating the material nonpublic information. The two men had a close friendship and a history of personal and professional favors. Satsky denies the allegations, stating that he did not provide Wolfe with material nonpublic information regarding South Jersey Industries. Wolfe also denies the charges, asserting that he purchased the shares based on an independent investment thesis. The SEC seeks permanent injunctions, civil monetary penalties, officer-and-director bars, disgorgement, and prejudgment interest against Satsky and Wolfe, as well as a conduct-based injunction against Satsky. The entities through which Wolfe allegedly traded, including Evergreen Capital and Evergreen Financial, are named as relief defendants, and the SEC seeks disgorgement and prejudgment interest against these entities as well. Bank of America, which terminated Satsky in March 2025, is not accused of any wrongdoing and declined to comment.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Banking Dive",
        "title": "SEC charges 2 former investment bankers with insider trading",
        "url": "https://urgent.news/2026/08/24/sec-charges-2-former-investment-bankers-with-insider-trading",
        "published": "2026-08-24T16:13:58.000Z"
      }
    ]
  },
  "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."
}