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Sergei Polevikov of Belarus Gets 33 Months for Insider Trading at Oppenheimer, Ukraine Cited

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

SDNY COURTROOM, April 12 – In the U.S. District Court for the Southern District of New York on September 23, 2021 a presentment and possible detention hearing was held by Magistrate Judge James L. Cott on securities fraud defendant -- and apparently Belarus dissident -- Sergei Polevikov, charged with "misappropriating confidential information about pending trades by his employer."

  Inner City Press went to cover it, and live tweeted it here (and researched, see below)

On December 15, Polevikov pleaded guilty: "SERGEI POLEVIKOV, a former analyst employed by an asset management firm, pled guilty to one count of securities fraud in connection with his multi-year scheme to commit insider trading by misappropriating confidential information about pending trades by his former employer.  POLEVIKOV was arrested in September of this year, and pled guilty today in Manhattan federal court before U.S. District Judge Lewis J. Liman.. POLEVIKOV is scheduled to be sentenced by Judge Liman on April 12, 2022." Plea agreement - calculating a 57 to 71 month guideline sentence - is on Patreon here.

On April 12, 2022, Polevikov was present to be sentenced by Judge Lewis J. Liman. Inner City Press live tweeted it, here:

Defense is asking for 58% reduction below sentencing guidelines, saying his career is ruined.

Defense lawyer: His wife Marina will have to get a minimum wage job.

Judge Liman: He has advanced math degrees. He'll do fine.

Defense: When he's out. His kids are vulnerable. It's all in my sealed submission.

Defense: He grew up in Belarus. His mother opposed [Lukashenko]. He was helping Belarus before Russia was front of mind. [2d sentencing today at which Ukraine war is cited and used]

 Defense: He wants to help doctors and patients. He should get two years at most. It was a single scheme.

Defendant: [sobbing] I have brought shame on my family. I hate myself. I am sorry to my fellow activists.

 Judge Liman: I sentence you, Sergei Polevikov, for six years of front running as an analyst at Oppenheimer to 33 months in prison 

The request is to start on July 12, at Otisville.

Back on October 6, the day before Polevikov was supposed to meet the conditions of his $1.5 million bond, his new lawyer Michael Gerber of Lankler Siffert & Wohl has written to Magistrate Judge Cott asking for an extra week, to October 14. It is unclear why the change of counsel impacted the co-signers. Watch this site.

From September 23: Polevikov is in jeans and a turqoise T-shirt. He was arrested last night at 9 pm.

He has 2 Simpson Thatcher lawyers. "For presentment only."

 Magistrate Judge Cott: You are charged with fraud [3 kinds].

AUSA Kirsten Fletcher: We propose pre-trial release $1.5 million bond, secured.

 AUSA: He can spend up to $500,000 on legal fees. Defense: Agreed. The wife [Maryna Arystava - trades were allegedly in her name] is not employed but is co-owner of the residence.

Judge Cott: I agree to the conditions of release.

   Simpson Thatcher's Brooke Cucinella was apparently the Criminal Justice Act panel counsel on duty.

  Fast research finds Polevikov, who was at Oppenheimer Funds from 2004 to 2019, for now at WellAI and "Doc in a Pock" - and that Polevikov tweeted against Lukashenko of Belarus, even this week, about President Biden's speech at the UN General Assembly.

Inner City Press ran back to the Magistrates Court and asked him about it. He said he had to go.

On October 26, the US asked for 30 more days to explore a resolution / guilty plea: "ORDER TO CONTINUE IN THE INTEREST OF JUSTICE as to Sergei Polevikov. Time excluded from 10/25/21 until 11/24/21. Affirmation of Kiersten Fletcher attached. (Signed by Magistrate Judge Barbara C. Moses 10/25/21)"

The case is US v. Polevikov, 21-cr-774 (Liman)



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