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by Mike Caswell

Seyedfarbod Sabzevari, the California man convicted of insider trading in Vancouver-Seattle biopharmaceutical listing Chinook Therapeutics Inc., has secured his release from jail, at least for now. The judge previously revoked Mr. Sabzevari's bond after he failed a drug test and failed to appear for subsequent tests. The judge has now allowed Mr. Sabzevari to go free, albeit under conditions that include being restricted to his residence and having GPS monitoring.

Mr. Sabzevari's release comes as part of a case in which prosecutors cited him and others for trading ahead of a 2023 takeover offer for Chinook. Prosecutors claimed that he and the others realized $600,000 in gains from a $3.2-billion bid by Novartis AG. (All figures are in U.S. dollars.) Mr. Sabzevari, who also goes by the name "Fabio," bought options and shares in Chinook in the days and weeks before the deal became public. A jury convicted him and the others after a 13-day trial in December, 2025.

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