Two of the defendants, according to the Massachusetts DA, are located in Russia and Israel and considered fugitives.

ByJERUSALEM POST STAFF

MAY 10, 2026 03:03

Prosecutors unsealed charges on Wednesday against 30 individuals implicated in a sprawling insider trading operation that spanned a decade, targeting corporate lawyers and finance experts, as detailed in a statement from the Massachusetts District Attorney's Office.

Nineteen suspects were taken into custody on Wednesday and are scheduled for court appearances in multiple U.S. cities. The Massachusetts DA highlighted that two others are believed to be in Russia and Israel, classifying them as fugitives.

“Today's arrests mark the FBI's successful takedown of a vast, decade-spanning international crime syndicate made up of corporate attorneys and financial insiders accused of pilfering and exploiting confidential, non-public data from top U.S. law firms - including one based in Massachusetts,” stated Ted E. Docks, Special Agent in Charge of the FBI's Boston Division.

“All those charged stand accused of reaping huge gains from anticipated market shifts and profiting handsomely... Insider trading erodes the essential trust that keeps our financial markets operating smoothly.”

The group allegedly obtained and traded on sensitive details from close to 30 merger and acquisition transactions at leading American law firms.

A 2022 text conversation between defendants Gavryel Silverstein and Simon Fensterszaub, cited in the release, featured coded references. “How's the rabbi??” Fensterszaub inquired, supposedly alluding to an iRobot deal. “He's stable,” Silverstein replied. “U shouldn't be worried.”

Silverstein and Fensterszaub are two of 16 defendants facing charges of two counts of conspiracy to commit securities fraud, two counts of securities fraud, and one count of conspiracy to commit money laundering.

Promoting fairness for every investor

“This alleged trading on unreleased corporate news breached securities regulations and abused the privileged access and professional obligations tied to a law license,” said United States Attorney Leah B. Foley.

“When the public senses that markets favor the elite, they pull back their investments and pensions, damaging the broader economy. These charges, stemming from an extensive probe with law enforcement allies, reflect our commitment to creating equal opportunities for all market participants.”