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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 asked a federal judge in New Jersey to let him out of jail early, complaining about harsh prison conditions. Mr. Sabzevari says that his initial experience in jail was a "nightmare," including having to sleep on a hard floor next to a toilet and enduring constant threats from other inmates. He is now in a different prison, but claims that the "unusually punitive experience" should warrant a reduction in his sentence.

The request from Mr. Sabzevari 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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