Pharma Scion in Trade Case Now Seeks $26 Million Bail

The son of a wealthy Greek pharmaceutical executive proposed an elaborate $26 million bail package to get out of a U.S. jail while he awaits trial over his alleged role in a global insider-trading ring.

Telemaque Lavidas is one of six people accused in what prosecutors said was a scheme that generated tens of millions of dollars. Lavidas got inside tips about Ariad Pharmaceuticals Inc. from his father, Athanase Lavidas, a former Ariad board member and the chief executive of Lavipharm SA, and passed it to a friend who used the information to earn almost $2 million in profits, prosecutors said. Lavidas has denied wrongdoing; his father isn’t charged.