‘shannon o'connor’ Indicted on Federal Charges of Securities Fraud and Insider Trading
WASHINGTON, D.C. — The United States Department of Justice has formally indicted former financial executive shannon o'connor on 12 counts of securities fraud and insider trading, federal prosecutors announced on Tuesday.
According to the 36-page indictment unsealed in the Southern District of New York, o'connor, 52, is accused of illegally profiting from non-public information between January 2021 and March 2023. The charges allege she tipped colleagues and family members on impending corporate mergers, yielding over $4.2 million in illicit gains.
The indictment, filed on December 10, 2023, follows an 18-month investigation by the Securities and Exchange Commission and the FBI. Authorities claim o'connor used encrypted messaging applications to conceal the transactions. She faces a maximum sentence of 20 years per count if convicted.
shannon o'connor was arrested at her residence in Stamford, Connecticut, without incident. She appeared briefly before a U.S. magistrate judge and was released on a $2 million bond. Her attorney declined to comment on the specific allegations but stated she intends to plead not guilty at her arraignment scheduled for next week.
This case marks the latest high-profile prosecution in the federal government’s ongoing crackdown on Wall Street misconduct.