December 10, 2023

Former Bakkt CEO accused of insider trading

Former Bakkt CEO accused of insider trading

After a closed meeting with health officials on coronavirus, Kelly Loeffler,who left her post as head of Bakkt to become a senator, sold shares worth about $3.1 million.

January 24, 2020 former CEOBakkt has met with representatives of the healthcare system to discuss the risks associated with coronavirus. On the same day, Kelly Loeffler reduced stock investments from $ 1.2 million to $ 3.1 million.

At the moment, Loffler and three other senatorssuspected of insider trading. Some note that officials could use information from a private meeting in order to receive personal benefits.

Former Bakkt CEO accused of insider trading

Loeffler initially registered the majorityfrom sales transactions for her husband – Jeffrey Sprecher, founder and CEO of the Intercontinental Exchange and chairman of the New York Stock Exchange. Last week, on March 12, she made a change to the report, according to which the majority of the shares are jointly owned.

On March 19, Loffler tweeted:

These are ridiculous and baseless accusations. I do not make investment decisions for my portfolio. All decisions are made by several third-party consultants, without the participation of me or my husband.

It is worth noting that the couple also acquired shares in Citrix. Since the beginning of the month, the share price has increased by 25%.  

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