Relative of Jordanian King Among Four Charged in $1M Insider Trading Scheme

Federico Nannini and associates allegedly used confidential information from MasTec acquisition to profit from stock trades.

Federico Nannini, his father Mauro Nannini, and friends Alejandro Thermiotis and Francisco Tonarely were arrested on Friday.
Thermiotis is related to the King of Jordan, with his brother married to the king's daughter, Princess Iman.
The four men are accused of sharing confidential information within a close circle to buy shares at a lower price and profit $1 million.
The U.S. Securities and Exchange Commission has filed a parallel civil lawsuit against the accused.
The alleged insider trading scheme began in June 2022, involving MasTec's acquisition of Infrastructure and Energy Alternatives.