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SEC accused hedge fund trader of $3.6M fraudulent plan

SEC accused hedge fund trader of $3.6M fraudulent plan

Financial authorities reported scam charges against Sean Wygovsky. He is a trader at the biggest Canadian organization. The trader was accused of participating in a front-running scheme.

According to the SEC’s accusation, he involved bank profiles of his family members in this fraudulent scheme. More than $3.6 mln were found there. These funds were acknowledged as illicit gains.

The trader frequently traded using his family members’ personal profiles held at brokerage companies in the US ahead of large transfers that were performed on the same days in the profiles of his employer’s advisory customers.

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