US v. Bray

(United States First Circuit) – Conviction of illegal insider trading, after defendant received material, nonpublic information about a local bank from a fellow country club member and then used that information to make a substantial trading profit, is affirmed over defendant’s claims that the government presented insufficient evidence to support the jury’s verdict, and that the trial court’s instructions allowed the jury to convict him without finding that he possessed the necessary mental state, as required by 15 U.S.C. section 78ff(a).