Google (GOOGL) Employee Charged for $1.2M Insider Trading Bets

AI Summary

Michele Spagnuolo, a Google (GOOGL) engineer, has been charged with insider trading after allegedly using internal data to make $1.2 million in profits on predictions via Polymarket. He reportedly placed $2.7 million in bets related to Google between October and December, leveraging confidential marketing information. The US Attorney's office announced the arrest, and Spagnuolo has since been released on a $2.25 million bond. Google stated it is cooperating with law enforcement on the investigation, emphasizing the seriousness of the breach of company policy.