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SEC Calls Out BofA Banker in $18.5M Insider Trading Case
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Subscribe26 AUG 2026 / SEC UPDATES
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Former Bank of America investment banker, Jason Satsky, is accused by the SEC of tipping off his friend, Gavin Wolfe, with confidential information regarding the takeover of South Jersey Industries in 2021. Allegedly acting on this information, Wolfe built a $53m position in the company, generating approximately $18.5m in gains when the stock jumped 40% following the acquisition announcement. The case highlights the meticulous scrutiny by regulators of potential misuse of confidential information in the finance sector, even years after the event.
It started with a basketball game, a longtime friendship, and a conversation that regulators say should never have happened. On November 9, 2021, former Bank of America investment banker Jason Satsky attended a Duke-Kentucky game at Madison Square Garden...
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