SEC v. Daniel Rivas, et al. (insider trading, 2017)

Judgment entered

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In August 2017 the SEC charged seven people with insider trading ahead of 30 deals between October 2014 and April 2017, a scheme it said began with a bank IT employee's access to confidential deal information. By September 2019 the court had entered judgments against all seven, each of whom had pleaded guilty in the parallel criminal case.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The complaint alleged that Daniel Rivas, a former bank IT employee, misused his access to tip his girlfriend's father James Moodhe, who passed tips to financial adviser Michael Siva; that Rivas's friends Roberto Rodriguez and Rodolfo Sablon turned under $100,000 into over $2 million with options trades; and that a third group involved Jhonatan Zoquier and Jeffrey Rogiers. The traders allegedly used shell companies, code words and an encrypted messaging application.

Outcome: an SEC litigation release of October 10, 2019 reports that the Southern District of New York entered partial final judgments against Rivas (December 19, 2017) and Moodhe (March 19, 2018), and final judgments against Rodriguez, Rogiers, Sablon, Siva and Zoquier on September 23, 2019. All seven were enjoined from violating Sections 10(b) and 14(e). The five later judgments order disgorgement of trading profits but deem it satisfied by criminal forfeiture orders; the release gives no dollar figures, so none are recorded here. The release says each of the seven pleaded guilty to related criminal charges, and says Rivas, Moodhe and Siva were barred from the securities industry. It does not report prison terms.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-08-16 Litigation release published
2. 2019-09-23 Final judgments entered against five remaining defendants (earlier partial judgments against Rivas and Moodhe)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release LR-24638 (final judgments)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.