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SEC Sues Israelis Tied to International Insider Trading Ring

PHOTO: Bloomberg
  • Feingold, Malnik made millions on illegal tips, SEC claims
  • Swiss trader testified to passing information to the two men

By Bob Van Voris | 3 March 2020

BLOOMBERG — The U.S. Securities and Exchange Commission sued two Israeli citizens linked to a sprawling international insider-trading ring.

Tomer Feingold, 40, and Dov Malnik, 42, were accused in a suit filed Tuesday in Manhattan federal court of using tips on planned health care mergers to make more than $4 million in illegal profits.

The men were named in January trial testimony by Marc Demane Debih, a former Geneva-based trader who has admitted making more than $70 million from his role at the center of the ring. According to the SEC, Feingold and Malnik traded on information passed to them by Demane Debih, who is identified as “Trader A” in the agency’s suit.

Demane Debih, 49, pleaded guilty in October to 38 insider trading-charges and agreed to cooperate with U.S. authorities. In January, he testified as the government’s star witness in the insider-trading trial of Telemaque Lavidas, the first defendant to face a U.S. jury after a multiyear government probe of the ring. […]

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