Prosecutors Allege Insider Trading Involving Former Bank of America IT Worker

WASHINGTON—Prosecutors have filed criminal charges against several people in an insider-trading scheme in which a former Bank of America employee is alleged to have tipped several friends about pending corporate mergers.

Daniel Rivas, a former information technology worker in Bank of America’s investment banking group, passed confidential information about potential deals to friends including his girlfriend’s father, who was an executive at a global interdealer brokerage firm, according to an indictment made public…

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