AI startup CEO pleaded guilty in US to trading on insider tips from lawyers
The founder and chief executive of an AI startup secretly pleaded guilty last year to participating in a vast scheme in which attorneys at major law firms tipped traders about mergers their employers were advising on. Court records unsealed on Monday show that Arya Bolurfrushan, a former Goldman Sachs banker who founded Abu Dhabi-based AppliedAI, pleaded guilty in June 2025 after striking a deal with federal prosecutors in Boston who were working to build cases against dozens of other people accused of participating in the long-running insider trading scheme.
