SEC v. Frank Tamayo (insider trading, 2016)

Settled

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In 2016, the Securities and Exchange Commission reported that Frank Tamayo, a former mortgage broker and middleman in the Grand Central post-it note insider trading scheme, was sentenced to a year and a day in prison, in a release that recalls his earlier SEC settlement requiring disgorgement of more than $1 million.

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 Securities and Exchange Commission announced this matter on September 21, 2016 as litigation release 23650. The respondent named is Frank Tamayo (1 individual). The release reports that Tamayo, who pleaded guilty in September 2014, was sentenced to a year and a day in prison for passing tips from a Simpson Thacher employee, Steven Metro, to his stockbroker Vladimir Eydelman, in a scheme whose trading produced about $5.6 million in profits. It recalls that Tamayo had settled with the SEC, agreeing to an injunction and to disgorge more than $1 million, without giving the exact figure. The $1,236,657 disgorgement and the industry bar formerly shown on this record belong to Eydelman, and have been removed.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

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. 2016-09-21 Litigation release published

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

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.