Former Goldman Sachs Analyst Receives 28-Month Prison Term for Insider Trading
A former analyst at Goldman Sachs and Blackstone, Anthony Viggiano, has been sentenced to 28 months in prison for his involvement in an insider trading scheme described as “catastrophically stupid.”
U.S. District Judge Valerie Caproni in Manhattan handed down the sentence on Wednesday, following Viggiano’s guilty plea in January to securities fraud. The 27-year-old from Baldwin, New York, admitted to passing confidential information on eight corporate mergers and partnerships between 2021 and 2023 to his college friend Stephen Forlano and Christopher Salamone, a childhood neighbour in the construction sales industry.
According to prosecutors, this scheme resulted in illicit profits exceeding $400,000 for Salamone and Forlano, who also pleaded guilty. Viggiano himself received $35,000 in cash from Salamone, delivered in a bag.
Among the transactions involved were American International Group’s sale of a business segment to Blackstone and the acquisition of satellite operator Maxar Technologies by private equity firm Advent International, a client of Goldman Sachs.
Prosecutors had sought a 30-month sentence, noting Viggiano’s significant role and describing him as more financially sophisticated than his accomplices.
In defence, Viggiano’s lawyers argued for a shorter sentence, emphasizing that the case did not involve extreme greed but rather poor judgment akin to “seemingly overgrown frat boys.” They also revealed Viggiano’s intention to potentially rejoin the U.S. Marine Corps, where he served until 2019 before sustaining a hip injury.
In a letter to Judge Caproni, Viggiano expressed regret, acknowledging his actions as a “catastrophically stupid decision” made with the intention of helping friends in financial difficulty.
Following the sentencing, Viggiano’s attorney Steven Brill affirmed his client’s values and work ethic, expressing confidence that Viggiano would redirect his life positively.
Stephen Forlano, another participant in the scheme, received a 13-month prison sentence in May. Christopher Salamone awaits sentencing scheduled for August 20, while a U.S. Army captain who received tips from Forlano was not charged criminally in connection with the case.
