Statement on Jury’s Verdict in Trial of Daryl Payton and Benjamin Durant
Feb. 29, 2016
After a two week trial, a jury in the Southern District of New York found both Daryl Payton and Benjamin Durant liable for insider trading in SEC v. Payton et al.
Statement of SEC Division of Enforcement Director Andrew Ceresney:
"Payton and Durant were sophisticated stock brokers who used highly confidential information about an upcoming transaction to illegally make hundreds of thousands of dollars at the expense of ordinary investors who played by the rules. Today's jury verdict holding them liable for insider trading reaffirms our commitment to aggressively root out and prosecute insider trading schemes, including by taking defendants to trial, in order to protect the integrity of our markets.”