This week a federal jury convicted a California man for obstructing an SEC investigation into insider trading. The defendant, Karim Iskander Bayyouk, now awaits his sentencing hearing, which is scheduled for January 15, 2014.
Bayyouk’s conviction is the latest reminder that although the SEC is a civil (not criminal) agency, it is still possible for someone being investigated to botch things so badly that, as in Bayyouk’s case, federal criminal prosecutors also get involved. As I have noted here before,
