Former UBS Investment Banker Sentenced in Manhattan Federal Court to 22 Months in Prison for Insider Trading Scheme
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that IGOR POTEROBA, a former investment banker in the Healthcare Group of UBS Securities LLC (“UBS”), was sentenced today to 22 months in prison for his participation in an insider trading scheme in which he passed material, non-public information regarding six mergers and acquisitions that certain UBS clients were contemplating to a co-conspirator, ALEXEI P. KOVAL, who then traded on this information, generating hundreds of thousands of dollars in illicit profits. POTEROBA, 37, was sentenced in Manhattan federal court by U.S. District Judge PAUL A. CROTTY. Manhattan U.S. Attorney PREET BHARARA said: “The message of today’s sentence of Igor Poteroba should be crystal clear—this office, along with our law enforcement partners, will not abide corrupt insiders who use their privileged positions to steal their companies’ valuable secrets and cash in on them. Professionals who engage in insider trad...