A former professional soccer player, Justin Jennings, illegally made $2.7 million using tips about deals he stole from his girlfriend’s laptop, according to the U.S. Attorney’s Office, District of New Jersey.
He and his company, Vortex Strategies LLC, allegedly engaged in financial transactions based on confidential information about deals involving several companies, including Apollo Global Management Inc. and Discover Financial Services.
The 27-year-old Jennings of Rockaway Township, New Jersey, briefly played in Latvia’s second tier of professional soccer.
According to the U.S. Department of Justice, as well as documents filed in this case and statements made in court, prosecutors have accused him of making strategic trades in the securities of eight publicly traded firms between February 2022 and October 2024 based on significant nonpublic knowledge in the days preceding significant business announcements, usually merger and acquisition announcements.
At the time of these trades, he was dating an account executive at a public relations firm entrusted with material nonpublic information about these announcements. After allegedly gaining access to this private information, including draft press releases, from his girlfriend’s employer-issued laptop without her knowledge or consent, Jennings made the profitable transactions.
The complaint also alleges, according to the Securities and Exchange Commission, that Jennings made illegal profits of about $2.7 million by using his personal brokerage account and an account in Vortex’s name to purchase the securities of the eight public companies.
Prosecutors charged him with one count of engaging in a securities fraud scheme, eight counts of securities fraud for insider trading, and two counts of transacting in criminal proceeds. If found guilty, he could spend up to 25 years in prison for the securities fraud charge, 20 years for each insider trading charge, and 10 years on each transacting in criminal proceeds charge.