An ex-Goldman Sachs analyst from Long Island, who is now facing federal charges for insider trading after allegedly sharing confidential information with childhood friends, previously won a $1,000 prize at an ethics competition during his college years.
Anthony Viggiano, a resident of Baldwin, Nassau County, and three classmates from the University of Tampa were awarded this prize at an “ethics invitational” event in 2018, as reported by Bloomberg News.
The event focused on practicing the application of decision-making frameworks to assist investment professionals in conducting business with integrity, according to a newsletter published by the university’s business school.
Organized by CFA Society Tampa Bay, the Ethics Invitational aims to prepare the next generation of investment professionals to tackle real-world ethical dilemmas and develop ethical decision-making skills.
Teams were presented with a case and had to create a 5-minute video demonstrating their understanding and application of ethical concepts to a professional situation, according to the competition rules.
“Teams advancing to the final round will participate in a live question and answer session with the panel of judges,” further stated the rules.
Maxwell Grimard, president of CFA Society Tampa Bay, expressed disappointment, stating that it is ironic for a past participant to be involved in actions contrary to what they learned about ethics.
The University of Tampa has not yet provided a comment on the matter.
According to federal prosecutors in Manhattan, Viggiano allegedly used his position as an analyst at Blackstone and later at Goldman Sachs to leak confidential financial information to his childhood friend Christopher Salamone, with the goal of benefiting from upcoming mergers and acquisitions. This information allegedly led to more than $300,000 in illicit gains, as outlined in court filings.
Viggiano reportedly used the encrypted app Signal and the Xbox video game console to communicate with Salamone, who resided on the same block as him, according to legal documents.
After being interviewed by the FBI in June of the previous year, Salamone started recording his conversations with Viggiano. In these conversations, Viggiano reassured Salamone that their communications about the stock tips were untraceable by authorities, as stated in court papers.
Salamone, a resident of Long Beach, Long Island, pleaded guilty to securities fraud and conspiracy charges and is cooperating with law enforcement, according to the Justice Department.
Viggiano’s college friend Stephen Forlano is accused of making approximately $114,000 from illegal tips provided by Viggiano. Forlano allegedly passed tips to five friends and family members, resulting in collective gains of $110,000.
Additionally, the Securities and Exchange Commission (SEC) indictment names Nathan Bleckley, a 26-year-old US Army captain and University of Tampa alumnus, who allegedly made around $25,000 based on tips received from Forlano. Bleckley is cooperating with investigators and is not currently facing criminal charges.
During his time as an analyst at Blackstone in 2021, Viggiano learned about the firm’s plans to acquire assets from insurance giant American International Group (AIG).
Forlano allegedly acted on this tip and purchased AIG stock. The announcement of the deal between Blackstone and AIG caused AIG’s stock price to rise over 3.5%.
According to court documents, Forlano shared similar tips received from Viggiano with five friends and family members, resulting in collective gains of $110,000.
Viggiano is facing nine securities fraud and conspiracy charges, while Forlano is facing four charges. All four individuals also face related civil charges from the SEC.
Steven Brill, Viggiano’s lawyer, declined to comment. Michael Bachner, Forlano’s lawyer, also declined to provide a statement. Todd Spodek, Bleckley’s attorney, stated that Bleckley was not criminally charged and has consented to the SEC’s partial judgment in an effort to resolve the matter.
The lawyers for Salamone were not immediately available for comment.
Both Blackstone and Goldman Sachs have stated their cooperation with authorities and their “zero tolerance” for the alleged misconduct, emphasizing that it goes against their business standards. Blackstone clarified that Viggiano held a “non-investment” role at the company.
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