Saturday, January 22, 2022

Peruvian Lawyer Who Cooperated in HudBay SDNY Insider Trading Case Gets Time Served

 

By Matthew Russell Lee, Patreon Maxwell Book
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, Jan 18 –  There are white collar prosecutions that begin with a bang and end with a whimper.

So it was for Nino Coppero Del Valle, who was up for sentencing on January 18.   Back in 2016 the SEC announced:

"On September 28, 2016, the Securities and Exchange Commission charged two lawyers and a brokerage firm manager in Peru with insider trading prior to the merger of two mining companies.  The SEC alleges that Nino Coppero del Valle, who worked at Canadian-based HudBay Minerals Inc., tipped his close friend and fellow attorney Julio Antonio Castro Roca with material nonpublic information about a tender offer his company submitted to acquire the shares of Augusta Resource Corp., whose principal business involved a copper mine near Tucson, Arizona. Castro allegedly traded on the inside information through a brokerage account held by a shell company he set up in the British Virgin Islands."  

Then there was a criminal case against Del Valle.

 On January 18, U.S. District Court for the Southern District of New York Judge Paul G. Gardephe held the sentencing. Inner City Press covered it.  

 While there are no sentencing memos in the public docket, Judge Gardephe recounted how Del Valle cooperating, including conducting recordings of his co-defendant Castro.

   Del Valle was sentenced to time served - and no supervised release, given that he still live in Peru.

The case is, or was, US v. Del Valle, 15-cr-178 (Gardephe)

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