Russian banker convicted in U.S. insider

A former employee of the U.S. financial services company Northern Trust Alexei Kovalev Manhattan sentenced to 26 months in prison for a deal with the use of insider information. It is reported Lenta.ru on Wednesday, May 25. Koval, a Russian citizen, together with his friend Igor Poteroba with insider trading has earned $ 1.4 million, Kowal admitted his guilt and repented of his deed. Accomplice Poteroba Koval, who worked in a bank UBS, was sentenced to 22 months in prison in March 2011. He also pleaded guilty to financial fraud. Koval worked at Northern Trust immediately before his arrest in March 2010. Prior to that he was an employee of Citigroup Asset Management and Western Asset Management. As found out a consequence, Poteroba fee passed Koval information about customers' transactions Branch UBS Healthcare, mainly pharmaceutical companies. Then Koval passed nobody data the third party collusion. In communicating with each other participating insider collusion used code phrases, masking their negotiations under the conversations on everyday topics. In particular, in one case it was about buying wedding gifts at a department store Macy's. After serving his term of Alexei Kovalev will be deported from the U.S. to Russia. Also co-conspirators to return all money earned illegally. A third suspect in the case of insiders is another Russian Alexey Vorobyov. He is alleged to be hiding in Russia.