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Alexion Insider Trading Triggered Indictment of Dupont who Now Pleads Guilty, Rest on Nov 28

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Sept 15 – As the fourth of four insider trading prosecutions announced on June 29, 2023 by the US Attorney for the Southern District of New York, Joseph Dupont, Shawn Cronin, Stanley "Slava" Kaplan, and Paul Feldman were charged with made more than $2.2 million dollars in illegal profits by trading in stocks and options based on MNPI that DUPONT misappropriated from his employer. 

   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.

DUPONT was a vice president at Alexion Pharmaceuticals, Inc. and, on January 31, 2020, was informed of Alexion’s upcoming acquisition of Portola Pharmaceuticals, Inc. 

Before that acquisition was publicly announced, in April 2020, DUPONT provided MNPI about the acquisition to his childhood friend, CRONIN. 

Not only were CRONIN and DUPONT childhood friends, but also CRONIN — who, at the time, was a sergeant in the police department of Dighton, Massachusetts, and later served as the chief of police — supervised DUPONT in DUPONT’s capacity as a reserve officer in that police department... CRONIN, KAPLAN, FELDMAN, and their tippees sold their shares of Portola and call options for Portola stock, reaping millions of dollars of illegally obtained trading profits.

   Also unsealed were charges against Jarett Mendoza, who has pled guilty pursuant to a cooperation agreement.

Another Niranjan?

Inner City Press attended the arraignment of Feldman and Kaplan, thread:

Both plead not guilty. AUSA: we're seeking bail for both. Kaplan $150,00 bond- Judge: And no guns? Defense lawyer Maimin: Sure.

Feltman $200,000 bond, travel to Eastern District of Pennsylvania as well

On July 14, Maimin wrote to Judge Woods that the Government that Doctor Kaplan at the time of his arrest that three firearms, now with the East Fishkill Police Department who says it can't keep them. So, to a friend, with the government's consent.

On July 24, Judge Woods held a conference. Inner City Press was there, thread:

OK- at Alexion insider trading case of US v Dupont, et al. 

One defense counsel opposes meeting before Judge Woods in 60 days, says he's entitled to vacation in August, proposes November.

Judge: Let's say four months from now.

 On September 15, 2023, with out notice, this: "Change of Plea Hearing as to Joseph Dupont held on 9/15/2023. Plea entered by Joseph Dupont (1) Guilty as to Count 2. Sentencing is scheduled for January 5, 2024, at 1:00 p.m"

Inner City Press will stay on the case(s).

This case is US v. Dupont, et al., 23-cr-320 (Woods)


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