Inner City Press

In Other Media-eg NYLJ New Statesman, CJR, NY Mag, AJE, Georgia, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

Alexion Insider Trading Triggered Indictments Now Feldman Ordered To File Video Transcript

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, May 17 – 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.

On January 23, 2024, two more guilty pleas: SHAWN CRONIN and PAUL FELDMAN each pled guilty before U.S. Magistrate Judge Sarah Netburn to one count of securities fraud in connection with their participation in an insider trading scheme surrounding the announcement of Alexion Pharmaceutical, Inc.’s acquisition of Portola Pharmaceuticals, Inc.  CRONIN and FELDMAN were arrested in June 2023.

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"

On September 19, another shoe dropped: "Change of Plea Hearing as to Slava (Stanley) Kaplan held on 9/19/2023. Defendant Slava (Stanley) Kaplan (3) (out on bail) present. Defendant withdraws previously entered not guilty plea and enters a plea of GUILTY to Count 4 of the Indictment  Sentencing set for 1/5/2024 at 03:00 PM."

On November 27, the SEC case judgment was entered - will it be different for the SEC on Binance - and CZ? SEC says: "On November 27, 2023, the Honorable Vincent Marrero of the United States District Court for the Southern District of New York entered judgments by consent against defendants Joseph M. Dupont and Stanley Kaplan, who were each charged with insider trading in the securities of Portola Pharmaceuticals Inc."

On December 22, Dupont asked for a "non custodial" sentence (no jail time) at his sentencing in January.

On December 28, the US Attorney's Office asked for a sentence at the bottom of the Guidelines range of 8 to 14 months.

On January 5, Dupont said he was disappointed in himself; his lawyer pointed at supporters in the gallery, said he is a teenage daughter's best friend.

Judge Woods noted Dupont now works at a construction company for a quarter of what he once made. He sentenced Dupont to eight months at home (he came leave for work and other purposes) - no jail time. But a $75,000 fine.

Then Slava Kaplan got five months.

On April 29, 2024, counsel for Shawn Cronin asked for a non-incarceratory sentence on May 13, citing his service as Chief of the Dighton Police Department in Massachusetts.

On May 7, Paul Feldman asked for no jail time, with a redaction (apparently a video) and a description of kidney care in "the underserved areas of Hudson Valley, NY." He submitted a video under seal.

On May 17, Judge Woods to his credit docketed: "ORDER as to Paul Feldman: The sentencing submission by Dr. Paul Feldman includes a link to an approximately 20 minute-long video containing testimonials on behalf of Dr. Feldman by his patients and colleagues. Dkt. No. 112 at 4. The Court has not been presented with sufficient justification for that video to be filed under seal in its entirety. The Court notes that it did not order the production of anymedical information to it. As a result, the Court understands that any individual who may have disclosed medical information to the Court in a testimonial on behalf of Dr. Feldman voluntarily offered that information. The presumption of public access applies to the video. Accordingly, Dr. Feldman is ordered to file a written transcript of the video as an attachment to a letter containing the names of each of the speakers and the text of their statements no later than May 21, 2024. To the extent that there is an application to redact any portion of that information, it should be made in accordance with the Court's Individual Rules of Practice in Criminal Cases. (Signed by Judge Gregory H. Woods on 5/17/2024)."

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

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

The SEC case is / was Securities and Exchange Commission v.  Dupont et al., 23-cv-05565 (Marrero)


Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.


Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2023 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at]