Home / Crime and Justice / Google Engineer Accused of Insider Trading
Google Engineer Accused of Insider Trading
28 May
Summary
- Engineer allegedly used confidential Google data for betting.
- He profited over $1.2 million from alleged trades.
- Charges include wire fraud and money laundering.
A Google software engineer has been charged in the United States with insider trading. Michele Spagnuolo, an Italian citizen residing in Switzerland, allegedly accessed Google's confidential "Year in Search" list before its public release.
Using this non-public information, Spagnuolo placed significant bets on the Polymarket betting platform. The US Department of Justice claims he profited more than $1.2 million from these wagers. He is accused of betting on which public figures would appear on the list.
Spagnuolo, who has worked at Google since 2014, has been placed on leave by the company. The charges against him include violating the Commodity Exchange Act, wire fraud, and money laundering. Authorities emphasize that using confidential business information for personal profit is illegal and compromises market integrity.
