| Pfizer
Analyst Dagar
Charged With
Paxlovid
Insider
Trading Now
Bhiwapurkar
Pleads Guilty
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
Oct 19 –
As one of four
insider
trading
prosecutions
announced on
June 29, 2023
by the US
Attorney for
the Southern
District of
New York, Amit
Dagar and Atul
Bhiwapurkar
were charged
with options
trading based
on inside
information
about the
results of
clinical
trials of
Paxlovid, a
medicine used
to treat
COVID-19.
The four
prosecutions
come a week
after the
conviction in
SDNY of
Brijesh Goel,
formerly of
Goldman Sachs.
Goel testified
on his own
behalf in a
trial covered
by Inner City
Press, which
is also
reporteding
weekly on the
SDNY
prosecutors
murky deal
with Sam
Bankman-Fried
to agree to
extradition
from the
Bahamas
apparently in
exchange for
not seeking
detention
(unlike on Avi
Eisenberg) and
now with the
China bribe
charges
severed or
dropped.
Dagar was an
employee of
Pfizer Inc.
and assisted
in managing
the data
analysis in
certain
clinical drug
trials.
On November 4,
2021, Dagar
learned that a
Pfizer trial
of the drug
Paxlovid, a
medicine
designed to
treat mild to
severe
COVID‑19
infection, had
produced
positive
results.
Dagar
purchased
short-dated,
out-of-the-money
call options
in Pfizer
stock.
DAGAR also
tipped his
close friend,
ATUL
BHIWAPURKAR,
about the
coming drug
results and
BHIWAPURKAR
also purchased
short-dated,
out-of-the-money
Pfizer call
options that
expired
approximately
two weeks
later.
BHIWAPURKAR
also tipped
another friend
(called
“Individual-1”),
who similarly
purchased
short-dated,
out-of-the-money
Pfizer call
options...
DAGAR,
BHIWAPURKAR,
and
Individual-1
sold their
Pfizer call
options at
significant
profits,
totaling
approximately
more than
$350,000.
What's
up with
Individial-1?
On
October 19,
Atul
Bhiwapurkar
came to the
SDNY
Magistrates
Court, with
Inner City
Press the only
media present,
and pled
guilty. His
deal has a
guideline of
10 to 16
months.
Inner
City Press
attended the
arraignment, thread:
AUSA:
He can be
released today
on $1 million
bond secured
by his real
estate, can
communicate
with
co-defendant
but not about
this case.
Defense lawyer
Smith: Dagar
is headed to
the Poconos.
AUSA does not
object
The
next
proceeding is
set for July
11 at 12:30 pm
The
case is US v.
Dagar, et al.,
23-cr-319
(Carter)
***
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