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SEC defendant Roda ordered to pay $560,762 (U.S.)

2023-03-10 20:44 ET - Street Wire

Also Street Wire (C-SCR) Score Media and Gaming Inc (1)

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by Mike Caswell

A U.S. federal judge has imposed a $560,762 criminal forfeiture order on David Roda, the Pennsylvania computer programmer who pleaded guilty to insider trading charges arising from the $2-billion takeover of Score Media and Gaming Inc. of Toronto. (All figures are in U.S. dollars.) Prosecutors said that Mr. Roda learned of the takeover through his job, and bought options in the weeks leading up to the deal becoming public. He immediately unloaded his holdings once the deal was disclosed.

The penalty for Mr. Roda is contained in a forfeiture order entered on March 8, 2023, in federal court in Pennsylvania. The order directs authorities to take the necessary steps to locate any assets belonging to Mr. Roda up to the $560,762 value of the judgment, and to seize those assets. The order is not the final word in the case, with the judge yet to determine a sentence for Mr. Roda. It is possible he could spend time in prison, but the sentencing recommendation of prosecutors is not public.

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