Former Merck Analyst Gets Three Years for Insider Trading
- Ex-analyst admitted giving tip to ex-classmate at BNY Mellon
- Defendant says he was paid $57,000 by friend for the tip
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A former Merck & Co. analyst was sentenced to three years and a month in prison for passing merger tips to an ex-business school classmate who worked at Bank of New York Mellon Corp.
Zachary Zwerko, 33, pleaded guilty in February to giving inside information to the former BNY Mellon employee, who used it to earn $700,000 by buying shares in companies Merck was looking into acquiring. Zwerko said he was paid $57,000 for the tip.