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by Mike Caswell

A federal judge in New Jersey has imposed jail terms of 14 months and two months on Seyedfarbod Sabzevari and James Roberge, both convicted for insider trading in Vancouver-Seattle biopharmaceutical listing Chinook Therapeutics Inc. ahead of a 2023 takeover. Prosecutors claimed that the men were part of a group that realized $600,000 in gains from a $3.2-billion takeover offer made by Novartis AG. (All figures are in U.S. dollars.) A jury convicted them after a 13-day trial in December, 2025.

Mr. Sabzevari, 31, and Mr. Roberge, 70, received their sentences in judgments handed down on Tuesday, May 5. The longer sentence went to Mr. Sabzevari, who the judge designated for a facility in California. Mr. Roberge, meanwhile, was recommended for FMC Devens, a federal medical centre in Massachusetts with an adjacent minimum security satellite camp. It is not clear why Mr. Sabzevari received the lengthier term, as the sentencing materials in the case are not public.

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