Federal Reserve Bank of Richmond examiner pleads guilty to insider trading
By 
Aaron Nicodemus2024-11-20T18:15:00
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
Robert Thompson pled guilty in U.S. District Court for the Eastern District of Virginia to one count of insider trading and one count of making false statements, the Department of Justice (DOJ) announced in a press release Tuesday. He faces up to 20 years in prison.
Federal Reserve Bank examiners are privy to confidential information about the banks they oversee, including confidential supervisory information (CSI). From 2020-24, the DOJ said Thompson executed 69 trades on banks under Federal Reserve Bank supervision that netted him nearly $772,000 in personal profits using confidential information, including CSI.
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