- home
- article
- Federal prosecutors charge Google engineer with insider trading on Polymarket
Federal prosecutors charge Google engineer with insider trading on Polymarket
Updated on
ai generated text
A former Google software engineer, Michele Spagnuolo, has been charged with insider trading after allegedly using a Polymarket account to place bets on who would be the most searched Google topic, winning over $1 million. Prosecutors accuse him of using the account "AlphaRaccoon" to trade on Google’s 2025 Year in Search results, and he faces charges of commodities fraud, wire fraud, and money laundering.
Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted.
Today's charges reinforce a decades-old message: corporate insiders cannot use confidential business information to turn a profit in our markets.
We are committed to maintaining accurate, fair, and transparent markets as well as enforcing our rules and working with our regulators and law enforcement.
The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies. We've placed the employee on leave and will take the appropriate action.
sources
perspectives
countries
- 1.Venezuela, Bolivarian Republic of
- 2.Italy
- 3.United States
- 4.Switzerland
- 5.Iran, Islamic Republic of
- 6.Singapore
organizations
persons
- 1.David Anthony Burke
- 2.Michele Spagnuolo
- 3.Nicolás Maduro
- 4.Donald Trump
- 5.Gannon Ken Van Dyke
- 6.Jay Clayton
- 7.Kendrick Lamar
- 8.Leo XIV
- 9.Mike Ferrara