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by Mike Caswell

Ross Haghighat, the Boston man appealing a 40-month sentence he received for insider trading in Vancouver-Seattle biopharmaceutical listing Chinook Therapeutics Inc., must now begin serving that sentence, a U.S. appeal court has ruled. Mr. Haghighat, 63, had sought to extend his bail, which would have allowed him to avoid jail while he appeals his case. He says that he should receive a new trial and, even if convicted, a probationary sentence.

The loss for Mr. Haghighat, handed down on Friday, Sept. 18, comes as part of case in which U.S. federal prosecutors claimed that he tipped others in a scheme that generated $600,000 in gains from a $3.2-billion takeover offer made by Novartis AG. (All figures are in U.S. dollars.) He learned about the takeover through board meetings, the government said. A jury convicted him and others on Dec. 17, 2025, after a 13-day trial.

Friday's ruling was very brief, simply stating that the appeal court has denied Mr. Haghighat's request. The court has yet to rule on the broader issues in his appeal, in which he is seeking a new trial based on what he says were problems with instructions the jury received. He must report to the Bureau of Prisons on Wednesday, Sept. 23, to begin serving his sentence.

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