Insider Trading Gone Wrong: Miami "Vice" Scumbags Get Slapped After $1 Million Dollar Windfall...

Well in today's news of “Play Stupid Games, Win Stupid Prizes”, four Miami men decided they’d go for the big leagues and leverage not so public knowledge to reap $1 million in the stock market. And now, they’re facing serious consequences.

(Source: Justice.gov) 

In short, the main character of this future Netflix docu-series is our homeboy Federico Nannini, a 26-year-old financial advisor (remember that title, it’ll come back to bite him), who was working with MasTec, a construction and infrastructure giant based in Coral Gables, Florida. 

(Source: LinkedIn) 

During the time of this business relationship, MasTec was in the process of acquiring another company, Infrastructure and Energy Alternatives Inc. (IEA), a deal that would make some investors very happy once it went public. Hence, comes the “stupid game” Federico Nannini decided to play. Because you know, why wait until the news drops when you can get ahead of the curve, right?

According to prosecutors, Nannini decided to share the juicy details with his father, Mauro Nannini, who’s 63 and apparently wasn’t about to pass up the opportunity to make his retirement way more comfortable. Federico also allegedly let his high school buddies, Alejandro Thermiotis (26) and Francisco Tonarely (25), in on the action. Whadda classy friend. 

(Source: Giphy) 

In turn, this whole thing ended up playing out like a scene from a low-budget conspiracy flick. For example, there were text messages like “I want to make some money right now...What [do] we do?” from Tonarely to Thermiotis, to which Thermiotis coolly responded, “Not a soul okay.” Real subtle, guys.

Additionally, Federico wasn’t just spilling the beans once. Over the next few weeks, prosecutors say he kept his dad and Thermiotis in the loop multiple times as the deal developed. Thermiotis, in turn, passed the insider info down to his boy Tonarely. It’s like a twisted game of telephone, but instead of ending with garbled words, it ended in a life changing stupid prize.

(Source: Miami Herald) 

At one point,  when the deal looked shaky, Mauro Nannini allegedly panic-sold his shares. However, Federico, the slimy salesman he is, assured his loving father that everything was still on track. This had buying his IEA shares back, whereas when the deal was officially announced on July 25, 2022, the four guys cashed out their stock like they had the cheat codes to Wall Street. They allegedly made over $1 million in profits.

Now, here are four dudes, knowingly breaking the rules of the game while WINNING… and what do they do? Well if you’re Federico Nannini, you send your buddy a pic of a Rolex and text, “You wanna hook it up for the boy...I know it’s a little over budget but this is the one.” Because what’s a little felony between friends when you’ve got expensive watches to buy? 

(Source: Giphy) 

Obviously this is a serious scheme full of fraud, but it’s actually hilarious if you ask me. I mean look, insider trading happens. It’s practically a rite of passage for some on Wall Street. But what makes this case stand out is how personal it allegedly got. This wasn’t just some random hedge fund manager tipping off a golf buddy; this was father and son, longtime friends, and text messages that sound like they’re straight from a group chat, not a financial crime novel. 

(Source: Giphy) 

In the end, this whole Miami Vice crew—Federico, Mauro, Alejandro, and Francisco—were arrested and had their first court appearances on Friday. All four pleaded not guilty and were released on bond, but if convicted, they’re each looking at up to 25 years behind bars for securities fraud. Translation: The epitome of “Play Stupid Games, You Win Stupid Prizes”. 

(Source: Giphy) 

Oh and just to make things more spicy on this whole sh^t show, the Securities and Exchange Commission (SEC) also threw its hat into the ring, filing civil charges against the quartet. So, in addition to possible prison time, they might also be looking at hefty fines, asset seizures, and a lifetime ban from the stock market. 

So clearly, it’s not looking great for our boys in Miami,  but hey, at least they’ll have some time to reflect on their choices. Like, maybe don’t text your friends about illegal trades. Or, you know, maybe don’t commit securities fraud in the first place. 

(Source: Giphy) 

In the meantime, let this just be a cautionary tale to all of those living on the edge, because no matter how airtight you think your plan is, the SEC is probably already leveraging the NSA’s massive budget to read your texts anyway (thanks Dick Cheney). So please, act accordingly. 

As always, stay safe and stay frosty this Sunday, friends! Until next time… 

P.S. Our Stocks.News premium members just came off a big +96% banger! The best part? It looks like it still has room to run when the market opens tomorrow morning. Click here immediately for the details.

Stocks.News holds positions in Netflix as mentioned in the article.