NEW YORK – A former investment fund analyst for Michael Dell's personal investment firm has been convicted in New York City of insider-trading charges.
The Manhattan federal court jury returned its verdict against John Afriyie on Monday. The one-time analyst at MSD Capital was convicted of securities fraud and wire fraud charges.
A second phase of the trial is now underway as the jury determines how much money the East Windsor, New Jersey, man must forfeit. The government is seeking to force him to surrender $2.6 million. Defense lawyers say he should be able to keep hundreds of thousands of dollars unrelated to insider-trading charges.
Afriyie has been held without bail since he failed last week to show up for his first day of trial.