“There’s no tracing Xbox 360 chat” said man now facing insider trading charges

Former Goldman Sachs investment analyst Anthony Viggiano is being charged for insider trading, which he allegedly conducted via encrypted messaging and Xbox voice chat, The Verge reports.

He allegedly tipped off two of his friends regarding big financial deals, and Viggiano believed it would be impossible to trace through Xbox 360 chat.

Viggiano and his friends — Christopher Salamone and Stephen Forlano — allegedly made at least $400,000 (R7.5 million) through the trading scheme. Salamone and Forlano are also facing charges.

However, the FBI secretly recorded him admitting he had shared the information.

Salamone: “You have s*** where you’re giving f***ing information to f*** Steve [Forlano]?”
Viggiano: “Nah. Nah. Because similar to you .. signal, or like XBOX 360 chat, there’s no tracing that. Good luck ever finding that.”

While the FBI alleges that Forlano and Viggiano shared information via email and disappearing Instagram messages, the government says Viggiano used “a video game console’s audio chat”.

It reportedly also managed to confirm the contents of the audio chat.

“Using this video game console audio chat, Forlano told CC-1, in substance and in part, that ChannelAdvisor was going to be acquired and the price at which the acquisition was likely to occur,” it said.

The full indictment is available here.

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“There’s no tracing Xbox 360 chat” said man now facing insider trading charges