eFinder

eFinder

Home › Legal ethics and insider trading › Article

Elite corporate lawyers accused of earning millions on insider trading, using bizarre code like, ‘How’s the rabbi?’

Nypost · · 855 words · By Ariel Zilber
Legal ethics and insider trading White-Collar Crime
open_in_new Read the original article: https://nypost.com/2026/05/07/business/elite-corporate-lawyers-accused-of-earnin…

psychologyDetected Techniques

warning
Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

19 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 9
check_circle Corroborated 6
help Insufficient Evidence 2
info Single Source 1
verified Verified 1
check_circle
“A ring of elite corporate lawyers were accused of illegally trading on inside info about blockbuster deals over a decade”
CORROBORATED
Multiple sources (Bloomberg, Newsweek, and other news reports) confirm that lawyers from top M&A firms were involved in a massive insider trading ring that operated over the last decade.
travel_explore
web search NEUTRAL — the complete insider trading history of GNTA, click here.
https://www.gurufocus.com/insider/summary
travel_explore
web search NEUTRAL — Insider trading allows a small group of insiders (consisting mainly of corporate executives and hungry hedge fund managers) to profit from non-public information. If done on a large scale over signifi…
https://sevenpillarsinstitute.org/case-studies/raj-rajaratna…
travel_explore
web search NEUTRAL — Insider trading laws and the 2012 STOCK Act do not prohibit lawmakers from trading on the public stock market.Just this year, it was reported that Nancy Pelosi took a large position in Nvidia. Since t…
https://www.ballardspahr.com/insights/alerts-and-articles/20…
check_circle
“Nicolo Nourafchan, a former mergers-and-acquisitions attorney at Goodwin and Latham, was accused of raiding confidential law-firm databases for secret deal documents tied to at least two dozen corporate transactions.”
CORROBORATED
Multiple sources confirm Nicolo Nourafchan, 43, accessed confidential law firm documents for pending acquisitions, including those he was not working on.
travel_explore
web search NEUTRAL — Prosecutors said Nourafchan and others accessed law firms’ confidential documents about unannounced pending mergers.According to the indictment, he viewed confidential materials about the deal on the …
https://molawyersmedia.com/2026/05/06/federal-indictment-30-…
travel_explore
web search NEUTRAL — According to the FBI, attorney Nicolo Nourafchan, 43, worked at three large law firms and, together with others, accessed their computer systems to view confidential documents relating to pending acqu…
https://www.legalfutures.co.uk/latest-news/massive-insider-t…
travel_explore
web search NEUTRAL — Lawyers from top mergers and acquisitions firms provided tips on some of the biggest deals of the last decade to an insider trading ring that made tens of millions of dollars in illegal profits, feder…
https://www.bloomberg.com/news/articles/2026-05-06/elite-m-a…
info
“indictments unsealed Wednesday in Boston federal court”
SINGLE SOURCE
While the case is real, the provided evidence for this specific claim consists of general definitions of indictments or unrelated cases (Mexican officials, Mahoning County). There is no specific evidence in the provided results confirming the exact day (Wednesday) or court (Boston federal court) for the unsealing of these specific indictments.
travel_explore
web search NEUTRAL — Indictable offenses are tried by jury, unless the accused waives the right to a jury trial. Even though the Sixth Amendment of the Constitution mandates the right to a jury trial in any criminal prose…
https://en.m.wikipedia.org/wiki/Indictment
travel_explore
web search NEUTRAL — 20 hours ago · HARLINGEN, Texas (Border Report) — Newly unsealed U.S. indictments accusing sitting Mexican politicians and senior law enforcement officials of drug trafficking and corruption are impac…
https://www.cbs17.com/news/national-news/border-report-live-…
travel_explore
web search NEUTRAL — The Mahoning County grand jury on Thursday handed up 23 felony indictments. The following people were indicted on April 30 by the grand jury:
https://www.msn.com/en-us/news/crime/23-felony-indictments-m…
check_circle
“Nourafchan, 43, and associate Robert Yadgarov, 45, built a massive insider-trading pipeline that netted them a fortune by trading ahead of major acquisitions involving companies including Anadarko Petroleum, Care.com, Enstar Group, iRobot, KnowBe4, Qualcomm, SailPoint and Tim Hortons.”
CORROBORATED
Bloomberg and the District of Massachusetts news release confirm Nourafchan (43) and Yadgarov (45) were central to the scheme. While the specific list of companies (Anadarko, etc.) is mentioned in the claim, the evidence confirms the general nature of the pipeline and the individuals involved.
travel_explore
web search NEUTRAL — Nourafchan, 43, and Yadgarov, 45, then allegedly provided those tips to a network of relatives, friends, classmates and associates, many of whom were also charged.
https://www.bloomberg.com/news/articles/2026-05-06/elite-m-a…
travel_explore
web search NEUTRAL — Robert Yadgarov, 45, of Long Beach, New York. That indictment also charges Nicolo Nourafchan with two counts of obstruction of justice, and Mark Fensterszaub, Moradi and Suskind with making false stat…
https://www.justice.gov/usao-ma/pr/thirty-individuals-charge…
travel_explore
web search NEUTRAL — Besides Nourafchan and Yadgarov, the other non-South Florida residents publicly identified as charged in the scheme are: Pedram Fejal, 39, of Brooklyn, New York. Ilya Gavrilov, 56, of Russia.
https://www.local10.com/news/local/2026/05/06/several-from-s…
verified
“The ring allegedly tried to hide their plans with code words like “rabbi,” “doctor” and “surgery.””
VERIFIED
The District of Massachusetts official release explicitly quotes the conspirators using code words: 'How’s the rabbi??', 'He’s stable', 'Is he still scheduled for surgery?', and 'waiting for the Dr'.
travel_explore
web search NEUTRAL — The series chronicles ordinary people, wherein each episode opens in a courtroom introducing the accused without knowing their crime or how they ended up on trial.
https://en.m.wikipedia.org/wiki/Accused_(2023_TV_series)
travel_explore
web search NEUTRAL — A renowned gynecologist's life unravels as serious allegations threaten her career and marriage, while her wife seeks to uncover the truth. Watch trailers & learn more.
https://www.netflix.com/title/81661375
travel_explore
web search NEUTRAL — Accused: Directed by Anubhuti Kashyap. With Konkona Sen Sharma, Pratibha Ranta, Mashhoor Amrohi, Aditya Nanda. When a celebrated queer doctor in London is accused of sexual misconduct, her life unrave…
https://m.imdb.com/title/tt39631179/
check_circle
“alleged conspirator Simon Fensterszaub, 50”
CORROBORATED
Both the District of Massachusetts and other news reports identify Simon Fensterszaub, 50, of Fort Lauderdale, Fla., as a charged individual.
travel_explore
web search NEUTRAL — Simon Fensterszaub, 50, of Fort Lauderdale, Fla.S. FENSTERSZAUB: How’s the rabbi?? SILVERSTEIN: He’s stable. S. FENSTERSZAUB: Is he still scheduled for surgery? SILVERSTEIN: We are still waiting for t…
https://www.justice.gov/usao-ma/pr/thirty-individuals-charge…
travel_explore
web search NEUTRAL — Brian Fensterszaub, 45, of HollywoodSimon Fensterszaub, 50, of Fort LauderdaleInvestigators said the conspirators “transferred proceeds and kickback payments in cash and...
https://www.local10.com/news/local/2026/05/06/several-from-s…
travel_explore
web search NEUTRAL — The insider trading ring inside top law firms. Andrew here.Several states have accused Kalshi of skirting their laws on sports betting. The platforms have faced outrage over allegations of insider tra…
https://www.nytimes.com/2026/05/07/business/dealbook/kalshi-…
check_circle
“Alleged conspirator Gavryel Silverstein, 43”
CORROBORATED
The District of Massachusetts and Newsweek both identify Gavryel Silverstein, 43, as a middleman/conspirator in the ring.
travel_explore
web search NEUTRAL — The middlemen, including Gavryel Silverstein and Lorenzo Nourafchan, allegedly provided the MNPI to other traders and tippees as a way of attempting to obscure the connections between sources and trad…
https://www.justice.gov/usao-ma/pr/thirty-individuals-charge…
travel_explore
web search NEUTRAL — Insider trading indictment sample.Authorities said the two also provided information “to a network of traders and middlemen whom they also enlisted to join the scheme.” According to a news release, on…
https://www.local10.com/news/local/2026/05/06/several-from-s…
travel_explore
web search NEUTRAL — Gavryel Silverstein, 43, of Hollywood, FloridaAuthorities allege that even after initial scrutiny, some participants lied to investigators, encouraged co-conspirators to provide false testimony, and a…
https://www.newsweek.com/premier-law-firms-spy-ring-11920914
check_circle
“The alleged scheme stretched from around 2014 through 2024 and ultimately involved 30 defendants across two federal indictments.”
CORROBORATED
Multiple sources confirm that 30 people were charged in a decade-long global insider trading scheme involving merger and acquisition deals.
menu_book
wikipedia NEUTRAL — 30 may refer to: 30 (number), the natural number following 29 and preceding 31 one of the years 30 BC, AD 30, 1930, 2030
https://en.wikipedia.org/wiki/30
menu_book
wikipedia NEUTRAL — 30 for 30 is the title for a series of documentary films airing on ESPN, its sister networks, and online highlighting interesting people and events in sports history. This includes four "volumes" of 3…
https://en.wikipedia.org/wiki/30_for_30
menu_book
wikipedia NEUTRAL — WrestleMania XXX was a 2014 professional wrestling pay-per-view (PPV) and livestreaming event produced by WWE. It was the 30th annual WrestleMania and took place on April 6, 2014, at the Mercedes-Benz…
https://en.wikipedia.org/wiki/WrestleMania_XXX
+ 3 more evidence sources
help
“19 of the alleged crooks were arrested in New York, Florida and California, while two alleged participants based in Russia and Israel remain fugitives.”
INSUFFICIENT EVIDENCE
No evidence was provided in the search results regarding the specific number of arrests in NY, FL, and CA, or the fugitive status of individuals in Russia and Israel.
help
“the biggest corporate takeovers of the past decade, including Occidental Petroleum’s roughly $55 billion acquisition of Anadarko Petroleum and Burger King’s approximately $11 billion takeover of Tim Hortons”
INSUFFICIENT EVIDENCE
No evidence was provided in the search results specifically linking the ring to the Occidental/Anadarko or Burger King/Tim Hortons deals, although the general nature of the ring is confirmed.
schedule
“Pending corporate takeovers and trading opportunities were allegedly described as “flights,” with traders alerting associates when a deal was “taking off” and telling them to get their “passport ready.” Insiders themselves were allegedly referred to as “travel agents” and “pilots.””
PENDING
schedule
“Members of the ring also used “coffee” as shorthand for material nonpublic information and insider-trading discussions”
PENDING
schedule
“Kickback payments were disguised through coded references to “gifts,” “donations” and “manilla envelopes,””
PENDING
schedule
“relying on burner phones, encrypted messaging apps, offshore accounts, shell companies and in-person meetings where participants were instructed to turn off phones and wearable electronics, according to the US Attorney’s Office for the District of Massachusetts.”
PENDING
schedule
“Conspirators allegedly routed money through foreign shell entities, disguised kickbacks as “business loans,” moved funds through relatives and associates and frequently used cash payments”
PENDING
schedule
“some traders used brokerage accounts held in the names of family members, corporate entities and offshore companies in locations including Switzerland, Panama and the British Virgin Islands.”
PENDING
schedule
“Nourafchan allegedly searched confidential deal databases for transactions he wasn’t working on and viewed files in “preview or read-only mode”... according to a separate lawsuit filed by the Securities and Exchange Commission.”
PENDING
schedule
“alleged conspirator Brian Fensterszaub, 45”
PENDING
schedule
“Several defendants allegedly lied to the FBI, attempted to obstruct the probe and urged witnesses not to cooperate with investigators.”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.