BOSTON — Several men from South Florida are among 30 people facing charges for a “decade-long insider trading scheme that netted tens of millions of dollars in illicit profits,” federal prosecutors in Boston announced on Wednesday.
Prosecutors said those charged in two indictments, including “corporate attorneys and other financial professionals,” stole “and used confidential information on nearly 30 merger and acquisition deals from several of the nation’s premier law firms, including a firm headquartered in Massachusetts.”
Authorities said they arrested 19 of the defendants on Wednesday. Two are on the run in Russia and Israel, they said.
Federal prosecutors said attorneys Nicolo Nourafchan, 43, of Los Angeles, and Robert Yadgarov, 45, of Long Beach, New York, “recruited other attorneys and insiders to serve as sources of inside information” on major acquisitions and “paid their sources kickbacks consisting of up to hundreds of thousands of dollars in cash.”
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, one of the middlemen was from South Florida: Gavryel Silverstein, 43, of Hollywood.
Besides Silverstein, the following defendants from Broward and Miami-Dade counties are facing charges:
- Brian Fensterszaub, 45, of Hollywood
- Mark Fensterszaub, 47, of Hollywood
- Simon Fensterszaub, 50, of Fort Lauderdale
- Baruch Igal Hatanian, 39, of Fort Lauderdale
- Yisroel Horowitz, 50, of Hollywood
- Joseph Suskind, 39, of Sunny Isles Beach
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
- God Izraelov, 46, of Israel
- David Makary, 35, of Covina, California
- Nowel Milik, 52, of Brea, California
- David Moradi, 35, of Brooklyn, New York
- Lorenzo Nourafchan, 38, of Los Angeles
- David Ostrov, 49, of Clifton, New Jersey
- Nicholas Rudela, 30, of Covina, California
- Yechiel Salzberg, 51, of Far Rockaway, New York
- Abe Shilian, 35, of Brooklyn, New York
- Stjepan Vinski, 30, of Glendora, California
“Charges against nine other defendants for securities fraud conspiracy were also unsealed” on Wednesday, prosecutors said.
Investigators said the conspirators “transferred proceeds and kickback payments in cash and through intermediaries and shell companies, in locations like Panama and Switzerland” and disguised them as “loans” or business transactions.
The suspects each face multiple federal charges, including securities fraud, conspiracy to commit securities fraud and money laundering conspiracy, that could land them in federal prison for decades.
Read the indictments:
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