SEC Adds Chris Farrant to Insider Trading Case, Alleges $25,860 Profit
SEC adds Chris Farrant to a 2023 insider trading case, alleging stolen bank deal information produced $25,860 for him and millions in customer profits.
Summary
On September 29, 2026, the SEC amended its complaint in Securities and Exchange Commission v. Jordan Meadow, et al., No. 1:23-cv-05573, filed June 29, 2023, in the Southern District of New York, adding New Jersey resident Chris Farrant as a defendant. The SEC alleges Farrant traded securities of two unnamed issuers using material nonpublic information from close friend Stephen Teixeira, who allegedly took it from the laptop of his then-romantic partner, an investment bank executive assistant.
Farrant allegedly passed information he knew was misappropriated to Jordan Meadow, who allegedly traded and tipped colleague and friend Ronald Smith. Smith allegedly traded for himself, his then-girlfriend and brokerage customers, and was previously charged separately. Alleged illicit profits were approximately $28,600 for Teixeira, $25,860 for Farrant, more than $730,000 for Meadow and more than $530,000 for Smith. Meadow and Smith allegedly earned hundreds of thousands of dollars in commissions by recommending trades that generated millions for customers.
Farrant is charged with violating Exchange Act Section 10(b) and Rule 10b-5. The SEC seeks an injunction, disgorgement with prejudgment interest and civil penalties. Norman P. Ostrove and Julia C. Green investigated, assisted by John S. Rymas and supervised by Scott A. Thompson and Market Abuse Unit Chief Joseph G. Sansone. Kara F. Sweet will lead the litigation under Gregory Bockin, with assistance from the FBI and U.S. Attorney’s Office for the Southern District of New York.
Positives
- September 29, 2026 enforcement action added Chris Farrant to the SEC’s existing insider trading case.
- More than $1.31 million in alleged personal profits across four participants was identified in the amended complaint.
- Injunctive relief, disgorgement with prejudgment interest and civil penalties could recover funds and deter similar conduct.
- FBI and Southern District of New York prosecutors assisted the SEC’s investigation.
Risks & concerns
- Farrant allegedly earned approximately $25,860 by trading securities of two issuers using misappropriated material nonpublic information.
- The alleged tip chain extended from Stephen Teixeira through Farrant and Jordan Meadow to Ronald Smith and brokerage customers.
- Meadow and Smith allegedly generated more than $1.26 million personally while earning hundreds of thousands of dollars in commissions.
- Brokerage customers allegedly made millions from recommendations based on misappropriated information.
- The SEC release does not identify the two affected issuers, limiting investors’ ability to assess company-specific exposure.
