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Hedge Fund and Insider Trading News: Jeffrey Epstein, Tom Steyer, MSD Capital, Acer Therapeutics Inc (ACER), Greif Inc (GEF), and More

MSD Capital Analyst to Forfeit $2.8 Million for Insider Trading (Bloomberg Law)
An investment analyst who made $1.6 million on an insider trading scheme must forfeit $2.8 million, the Second Circuit said July 8. The forfeiture includes the appreciation of the funds John Afriyie made off his scheme, as required by law, the opinion by Judge Rosemary S. Pooler said. Afriyie worked for MSD Capital, which possessed material nonpublic information about Apollo Global Management’s acquisition of home security firm ADT Corp. After accessing the MNPI, Afriyie bought ADT call options.

Monday 7/8 Insider Buying Report: PRSP, ACER (
On Wednesday, Perspecta’s Director, Philip O. Nolan, made a $100,331 purchase of PRSP, buying 4,366 shares at a cost of $22.98 each. Nolan was up about 4.9% on the purchase at the high point of today’s trading session, with PRSP trading as high as $24.10 at last check today. Perspecta is trading up about 1.2% on the day Monday. Before this latest buy, Nolan purchased PRSP at 3 other times during the past twelve months, for a total investment of $302,288 at an average of $22.07 per share. And at Acer Therapeutics, there was insider buying on Wednesday, by Director Steve Aselage who purchased 5,000 shares at a cost of $3.72 each, for a trade totaling $18,581. Acer Therapeutics is trading up about 0.9% on the day Monday. Bargain hunters are able to pick up ACER at a price even lower than Aselage did, with shares trading as low as $3.28 in trading on Monday – that’s 11.7% below Aselage’s purchase price.

The EVP & CFO of Greif Inc (NYSE: GEF) is Buying Shares (Analyst Ratings)
Today, the EVP & CFO of Greif Inc (GEF), Lawrence Hilsheimer, bought shares of GEF for $165.7K. Following this transaction Lawrence Hilsheimer’s holding in the company was increased by 15.39% to a total of $4.79 million. In addition to Lawrence Hilsheimer, 3 other GEF executives reported Buy trades in the last month. Based on Greif Inc’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $1.21 billion and quarterly net profit of $13.6 million.

Senior Compliance Officer and Trader Imprisoned for Insider Dealing Following FCA investigation (
At the end of last month a senior compliance officer at UBS AG (“UBS“) and her financial securities trader associate were each sentenced to three years imprisonment for five offences of insider dealing, following successful criminal proceedings brought by the Financial Conduct Authority (“FCA“). Confiscation proceeding are also being pursued against both defendants.

Kenya: CMA Penalizes Kestrel Ex-CEO and Aly Khan Satchu for Insider Trading (
Former Chief Executive Officer Kestrel Capital East Africa Andre Desimone will pay a penalty of Sh2,500,000 following his involvement in insider trading on KenolKobil shares in the period before the takeover announcement was made public in October 2018. This comes after the Capital Markets Authority constituted an Ad Hoc Board Committee for the sole purpose of hearing and determining the allegations on the suspicion’s trades in KenolKobil shares and to prescribe sanctions.

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