Charges Filed For Alleged Insider Trading Off Sensitive Medicare News

The Securities and Exchange Commission and the U.S. Attorney's office on Wednesday alleged insider trading in connection with the government's plan to cut Medicare reimbursement rates. The SEC’s complaint alleges that David Blaszczak, a former government employee turned political intelligence consultant, obtained key confidential details about upcoming decisions by the Centers for Medicare and Medicaid Services from his close friend and former colleague at the agency, Christopher Worrall. Blaszczak allegedly tipped two analysts at a hedge fund advisory firm that paid him as a consultant -- Theodore Huber and Jordan Fogel. Blaszczak, Worrall, Huber, and Fogel are each disputing the allegations.