Former Federal Reserve manager pleads guilty to insider trading in Virginia

Robert Brian Thompson, a former senior manager at the Federal Reserve Bank of Richmond, pleaded guilty to insider trading and making false statements. He misused confidential information to profit approximately $771,678 from trades in publicly traded financial institutions from October 2020 to February 2024. Thompson executed 69 trades, including a notable transaction involving Capital One stock, where he made $79,346 after receiving nonpublic earnings information. He failed to disclose his trading activities on required annual forms, claiming he had no equities in public financial institutions. Thompson is set to be sentenced on March 19, facing up to 25 years in prison for his offenses.