Wrongly Convicted Database Record


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Spyridon Adondakis



Insider Trading


Years Imprisoned:

Year Crime:

Year Convicted:

Year Cleared:


U.S. State or Country of Crime:

New York - Federal Case

County or Region of Crime:

New York

City of Crime:

New York City


Judicially Exonerated

Summary of Case:

"Spyridon Adondakis, Jon Horvath, Jesse Tortora, Sandeep Goyal, Danny Kuo, Hyung Lim, and Michael Steinberg were codefendants wrongly convicted of insider trading charges in the SAC Capital Advisors case prosecuted in Manhattan, New York City. Steinberg was convicted in Decembe 2013 after a jury trial, while the other six defendants pled guilty in exchange for a lesser sentence, and acted as a cooperating witness against Steinberg. In October 2015 Manhattan U.S. Attorney Preet Bharara announced he would be making motions to dismiss the indictments against the seven codefendants. The dismissals were in response to the U.S. Second Circuit Court of Appeals ruling in USA v. Todd Newman and Anthony Chiasson, No. 13-1837-cr (L), 13-1917-cr (con), (2nd Cir. 12-10-2014), reversing their convictions based on insufficient evidence of their guilt because the prosecution must prove an individual charged with insider trading knew an insider had turned over confidential information for financial gain. The government had no such evidence against any of the defendants in the SAC Capital Advisors case, so it had insufficient evidence of their guilt."

Conviction Caused By:

Innocence Proved By:

"On October 22, 2015 motions by Manhattan U.S. Attorney Preet Bharara were granted by the U.S. District Court to dismiss the indictments against the seven codefendants due to a lack of evidence they committed insider trading."

Defendant Aided By:

Compensation Awarded:

Was Perpetrator Identified?

Age When Imprisoned:

Age When Released:



Information Source 1:

"U.S. Prosecutor to Drop Insider Trading Cases Against Seven, By Matthew Goldstein (Staff), The New York Times, October 22, 2015"

Information Location 1:


Information Source 2:

"USA v. Todd Newman and Anthony Chiasson, No. 13-1837-cr (L), 13-1917-cr (con), (2nd Cir. 12-10-2014) (Vacating convictions and ordering dismissal of indictiment with prejudice)"

Information Location 2:


Information Source 3:

"USA v. Newman et al, No. 1:12-cr-00121-RJS (U.S. District Court, Southern District of New York (Foley Square)) (Docket last viewed 10-25-2015)"

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Innocents Database Created and Maintained by Hans Sherrer innocents@forejustice.org

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