- An Idaho man who allegedly managed to access stock picks by personal finance website Motley Fool before publication and made millions of dollars trading on the information has been charged with securities fraud.
- David Stone, 36, was charged Tuesday by federal prosecutors in Manhattan over trades placed between 2020 and 2022. The Securities and Exchange Commission filed a tandem civil complaint against Stone that also named a friend, John D. Robson, as complicit in the scheme. The SEC identified the investment advisory service from which the stock picks were stolen as Motley Fool.
- The SEC said Stone made more than $3.9 million using the tactic, and Robson made $3 million. Stone was arrested Monday and will have his first appearance in federal court in Oregon today, federal prosecutors said. Robson, also an Idaho resident, has not been charged in the criminal case.
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