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Nuveen Investment Bank: Ex-Trader’s $47m Court Case Explained

A former trader at Nuveen LLC has confessed to participating in an insider trading scheme, resulting in illegal profits exceeding $47 million.

A former trader at Nuveen LLC pleads guilty to insider trading scheme, resulting in illegal profits exceeding $47 million. PHOTO: Pension & Investmets/ALP
A former trader at Nuveen LLC pleads guilty to insider trading scheme, resulting in illegal profits exceeding $47 million. PHOTO: Pension & Investmets/ALP

Lawrence Billimek pleaded guilty to securities fraud in a Manhattan court, agreeing to cooperate with prosecutors.

While facing a maximum prison term of 20 years, Billimek is expected to receive a more

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