Trader Tells Jury He Got No Illegal Info From Scared CPA
Law360, New York (June 15, 2021, 2:32 PM EDT) -- A former Illumina Inc. accountant who allegedly tipped California trader Donald Blakstad on the gene tech company's prospects had no secrets to share, Blakstad's counsel told a Manhattan jury Tuesday, saying she pled guilty to insider trading because she fears the FBI.
Counsel for Blakstad, a 62-year-old San Diego millionaire stock speculator, attacked the Manhattan U.S. Attorney's seven-count insider trading and fraud case against him during opening arguments at a trial before U.S. District Judge Edgardo Ramos that is expected to last about two weeks.
"Donald Blakstad did not commit fraud, and [he] did not obtain secret information that was forbidden...
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