New Jersey Broker Pleads Not Guilty to $3.4 Million Insider Trading Charges

Christopher Matthaei faces multiple counts of securities fraud and conspiracy linked to confidential SPAC deals.

Matthaei allegedly earned $3.4 million using non-public information from a friend at Polar Asset Management Partners.
The insider trading scheme involved confidential merger agreements between SPACs and target companies.
Matthaei and his friend, Sean Wygovsky, allegedly continued their activities during a luxury trip to St. Barts in 2020.
Wygovsky has already pleaded guilty to providing the insider information and other securities fraud charges.
If convicted, Matthaei could face up to 20 years in prison for each securities fraud count.