The complaints alleged that Spagnuolo earned approximately $1.2 million in profits from Polymarket trades based on his access
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"As alleged, Spagnuolo violated the duties he owed to his employer and used Google’s confidential business information to make more than $1.2 million in trading profits on Polymarket," U.S. Attorney Jay Clayton said in a press release.
Key facts
Spagnuolo, a 36-year-old Italian citizen residing in Switzerland, faces charges of commodities fraud, wire fraud, and money laundering, which carry maximum prison sentences of 10 years, 20 years
With 2 out of 2 arrests in this industry resulting from their criminal referrals, Polymarket has emerged as the enforcement leader
A Google engineer has been accused of misappropriating confidential company information to place Google-related trades on Polymarket, allegedly profiting about $1.2 million
The complaints alleged that Spagnuolo earned approximately $1.2 million in profits from Polymarket trades based on his access to inside information
Summary
A Google engineer has been accused of misappropriating confidential company information to place Google-related trades on Polymarket, allegedly profiting about $1.2 million. U.S. prosecutors filed a criminal complaint against Michele Spagnuolo, a software engineer at Google, charging him with fraud and money laundering, according to a filing unsealed Wednesday. The Commodity Futures Trading Commission also filed a parallel civil complaint against Spagnuolo, alleging insider trading in violation of the Commodity Exchange Act. Between October and December 2025, Spagnuolo allegedly used an account known as "AlphaRaccoon" to place trades on Polymarket. The complaints alleged that Spagnuolo earned approximately $1.2 million in profits from Polymarket trades based on his access to inside information.