Many Massachusetts parents require child support payments to provide for their children and survive independent from the other parent. When a non-custodial parent responsible for providing financial support loses their income due to illegal practices, a guardian may be concerned about how they will continue to receive help. A man who had been employed as an investment banker was recently let go from his position and arrested due to the discovery of his alleged profit from insider trading used to fund child support payments.
As the senior managing director for his company, the professional banker had access to resources that made this illegal practice possible. Reports claim that the funds accumulated from his illegal trading were purportedly used to complete child support payments for the man's young child. When the trading was discovered not only did the additional income get cut off, but the SEC filed a civil complaint against the man for using the money solely to fulfill child support obligations.