Google Engineer Charged With $1.2M Insider Trading on Polymarket Using Internal Search Data

According to Fortune, U.S. prosecutors this week charged Michele Spagnuolo, a 36-year-old Italian software engineer at Google based in Switzerland, with insider trading. Operating under the username "AlphaRaccoon," Spagnuolo allegedly used confidential internal search trend data from Google before the public release of the company's 2025 search data to place bets on the prediction market platform Polymarket, accumulating profits exceeding $1.2 million. The FBI identified him by tracing cryptocurrency payments. Spagnuolo faces charges under the Commodity Exchange Act, wire fraud, and money laundering, with potential prison sentences. Google has suspended him and stated the misuse of confidential information violates company policy.
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