Cooperator Tells Jury He Barely Knew Ariad Insider Suspect

By Pete Brush (January 8, 2020, 7:20 PM EST) -- A cooperator who earned $70 million via a network of stock market informers said Wednesday that he only has tenuous ties to an entrepreneur on trial for allegedly passing Ariad Pharmaceuticals secrets, telling a Manhattan federal jury he only met the defendant once and never got tips directly from him.

The testimony from government witness Marc Demane-Debih came during a third day of defendant Telemaque Lavidas' insider-trading trial, which is being overseen by U.S. District Judge Denise L. Cote and is expected to close next week.

Lavidas, a 39-year-old Columbia University grad, is accused by the Manhattan U.S. Attorney's office of...

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