| Peruvian
Lawyer Who Cooperated in HudBay SDNY
Insider Trading Case Gets Time Served
By Matthew
Russell Lee, Patreon Maxwell
Book
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Jan 18 – There are white
collar prosecutions that begin
with a bang and end with a
whimper.
So it was for
Nino Coppero Del Valle, who
was up for sentencing on
January 18. Back
in 2016 the SEC announced:
"On September 28,
2016, the Securities and
Exchange Commission charged
two lawyers and a brokerage
firm manager in Peru with
insider trading prior to the
merger of two mining
companies. The SEC
alleges that Nino Coppero del
Valle, who worked at
Canadian-based HudBay Minerals
Inc., tipped his close friend
and fellow attorney Julio
Antonio Castro Roca with
material nonpublic information
about a tender offer his
company submitted to acquire
the shares of Augusta Resource
Corp., whose principal
business involved a copper
mine near Tucson, Arizona.
Castro allegedly traded on the
inside information through a
brokerage account held by a
shell company he set up in the
British Virgin
Islands."
Then there was a
criminal case against Del
Valle.
On January
18, U.S. District Court for
the Southern District of New
York Judge Paul G. Gardephe
held the sentencing. Inner
City Press covered
it.
While there
are no sentencing memos in the
public docket, Judge Gardephe
recounted how Del Valle
cooperating, including
conducting recordings of his
co-defendant Castro.
Del
Valle was sentenced to time
served - and no supervised
release, given that he still
live in Peru.
The case is, or
was, US v. Del Valle,
15-cr-178 (Gardephe)
***
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