Damian Williams, the United States Attorney for the Southern District of New York, announced today that APOSTOLOS TROVIAS, aka “The Bull”, pleaded guilty and was sentenced earlier in the day to time served, after approximately eleven months of detention, in connection with his scheme to solicit and sell confidential information, pre-release earnings, transactions and other information regarding public companies.
According to the allegations contained in the indictment, the complaint, the statements made in court and the documents filed in court:
Since at least December 2016 or around this date, APOSTOLOS TROVIAS, who identified himself under the pseudonym “The Bull”, had used dark web websites and encrypted messaging services to solicit and sell confidential information and not publicly traded companies (“Inside Information”) for enrichment. TROVIAS’ scheme consisted of multiple related efforts to obtain and monetize confidential non-public business information, including the sale of pre-publication earnings reports and information on fraudulent transactions of listed companies.
In addition, circa 2020, TROVIAS has taken steps to design and create a website to facilitate the buying and selling of material, non-public information for use in stock trading (the “Information Auction Site”). privileged”). TROVIAS planned to use the inside information auction site to enrich themselves by charging membership fees and commissions to people using the inside information auction site to engage in illegal trading in inside information .
* * *
TROVIAS, 30, of Athens, Greece, had been arrested in the Republic of Peru in May 2021 and arrived in the United States by extradition on March 25, 2021. TROVIAS was ordered to pay a forfeiture in the amount of 6 $700.
Mr. Williams praised the remarkable work of the FBI. Mr. Williams also thanked the United States Securities and Exchange Commission and the Internal Revenue Service for their cooperation and assistance in this investigation.
The prosecution of this case is overseen by the Bureau’s Securities and Commodity Fraud Task Force. Assistant US Attorneys Matthew Podolsky and Andrew Thomas are in charge of the case.