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Ex-Lazard Banker’s Insider Tips Reaped $41 Million Haul, US Says

January 12, 2026

A former dealmaker at Lazard Ltd., one of Wall Street’s most prominent investment banks, is accused by US authorities of feeding tips on health-care deals to a friend’s network of insider traders, who generated $41 million of illicit profits. Justin Kim — now facing both criminal and regulatory charges — received a Rolex watch and career advice while leaking 10 potential takeovers over several years through 2023, according to a complaint from the US Securities and Exchange Commission, seeking to ban him from the industry. Last month, the Department of Justice unveiled fraud and insider trading charges against Kim that carry up to 25 years in prison.

Ex-Lazard Banker’s Insider Tips Reaped $41 Million Haul, US Says

Credit: Livemint

Key Highlights

The friend, Muhammad Saad Shoukat, two of his brothers and other defendants allegedly used the information for well-timed bets ahead of takeovers.
Deals included Gilead Sciences Inc.’s $21 billion acquisition of Immunomedics Inc.
in 2020, CVS Health Corp.’s $10.6 billion buyout of Oak Street Health Inc.
and AbbVie Inc.’s $10.1 billion purchase of ImmunoGen Inc.
in 2023 — three of the biggest that Lazard worked on in that sector over the past decade.

Sources

Ex-Lazard Banker’s Insider Tips Reaped $41 Million Haul, US Says

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Ex-Lazard Banker’s Insider Tips Reaped $41 Million Haul, US Says

Key Highlights

Sources

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