SEC charges former Bank of America investment banker with insider trading

The lawsuit seeks to recoup ill-gotten gains from Wolfe, and impose civil fines and officer-and-director bans against Satsky and Wolfe, among other remedies.

Satsky, 59, lives in New York, while Wolfe, 55, lives in New York and Sunny Isles Beach, Florida.

"Jason strongly denies the SEC’s allegations and is confident that the evidence will demonstrate that he acted properly and that he will be fully vindicated," Satsky's lawyer Robert Anello said in a statement. "Jason did not provide Gavin Wolfe, or anyone else, with material nonpublic information regarding South Jersey Industries."

Reed Brodsky, a lawyer for Wolfe, in a statement said his client "categorically denies the allegations and will vigorously defend himself." He also said the SEC ignored sworn testimony and documents that showed Wolfe bought South Jersey shares based on an "independent investment thesis."

Wolfe was a senior power and renewable energy banker at Credit Suisse before he and Satsky joined Bank of America in 2012. Evergreen manages Wolfe family assets. Bank of America terminated Satsky in March 2025, the SEC said.