AI Startup CEO Pleads Guilty to Insider Trading Scheme Involving Law Firm Attorneys

Arya Bolurfrushan, founder and CEO of AI startup AppliedAI, pleaded guilty in June 2025 for participating in an insider trading scheme involving attorneys from major law firms. He admitted to conspiring with Nicolo Nourafchan and Robert Yadgarov to trade on confidential merger information, profiting $954,496 before agreeing to a two-year prison sentence recommendation.

By https://www.facebook.com/CNBC · CNBC · July 7, 2026, 15:00 UTC

Tickers: $GS

Topics: AI startup fraud legal securities

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