Swiss Trader Emerges in U.S. Insider Trial After Secret Plea
- Marc Demane Debih pleaded guilty to 38 criminal counts
- Demane Debih testifies in trial of pharmaceutical CEO’s son
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A mysterious Swiss trader tied to an international insider-trading network told New York jurors he made about $70 million from illegal tips from sources on three continents and that he sometimes shared the information with others -- for a price.
Marc Demane Debih, who already has pleaded guilty to dozens of insider-trading charges, testified Wednesday as the key government witness against Telemaque Lavidas, the first U.S. defendant to be tried for alleged involvement in a broad conspiracy the government has been probing since 2013.