MORRIS COUNTY – Justin Jennings, 27, of Rockaway Township has been indicted on charges of securities fraud and insider trading in connection with a $2.7 million scheme in which he allegedly stole confidential documents from his girlfriend’s employer to make profitable stock trades, U.S. Attorney Robert Frazer announced Tuesday.
Jennings was charged by indictment with one count of engaging in a securities fraud scheme, eight counts of securities fraud for insider trading, and two counts of transacting in criminal proceeds.
According to prosecutors, between February 2022 and October 2024, Jennings made well-timed trades in the securities of eight publicly traded companies in the days before major corporate announcements — typically mergers and acquisitions — based on material nonpublic information (MNPI). At the time of the trades, Jennings was in a relationship with an account executive at a public relations firm that had been entrusted with confidential information about those announcements.
Prosecutors allege that Jennings accessed draft press releases and other confidential documents from his girlfriend’s employer-issued laptop without her knowledge or consent. The scheme allegedly generated more than $2.7 million in illegal trading profits.
If convicted, Jennings faces a maximum penalty of 25 years in prison on the securities fraud charge, 20 years on each insider trading count, and 10 years on each count of transacting in criminal proceeds.
The U.S. Securities and Exchange Commission also filed a civil complaint against Jennings based on the same conduct.
The investigation was conducted by special agents of the Federal Bureau of Investigation under the direction of Special Agent in Charge Stefanie Roddy in Newark. The case is being prosecuted by Assistant U.S. Attorneys Aaron Webman and Farhana C. Melo of the Economic Crimes Unit in Newark.
Editor’s Note: The charges outlined in this publication are merely accusations, and the defendant and/or defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt.
