Feds Dispute Ariad Insider Suspect's 'Wrong Man' Theory

Law360, New York (January 13, 2020, 7:05 PM EST) -- Federal prosecutors asked a Manhattan jury Monday to rely on what they call "overwhelming" circumstantial evidence to convict an entrepreneur of leaking secrets about his father's pharmaceutical company to a trader friend, pushing back against a defense theory that another suspect is the tipper.

The back-and-forth came during closing arguments in the criminal insider-trading trial of nutrition-bar entrepreneur Telemaque Lavidas, which opened Jan. 6 and is being overseen by U.S. District Judge Denise L. Cote.

Lavidas, a 39-year-old who was jailed prior to trial by Judge Cote, is accused by the Manhattan U.S. Attorney's office of passing tips on three occasions...

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