Authorities arrest a relative of the King of Jordan and 3 others for $1M insider-trading plot

MIAMI (AP) — A relative of the King of Jordan and three other men in Miami face charges of conspiring to make insider stock trades on a business acquired by one of South Florida’s major publicly held companies, MasTec. The Miami Herald reports Federico Nannini, his father, Mauro Nannini, and two of his friends, Alejandro Thermiotis and Francisco Tonarely, were arrested Friday on charges of conspiracy to commit securities fraud and 24 related offenses. Thermiotis is a relative of the King of Jordan. Thermiotis’ brother, Jameel, married King Abdulla’s daughter, Princess Iman, last year. Federal authorities said the alleged scheme began in June 2022 when Federico Nannini, a consultant, began advising MasTec on its planned acquisition of Indiana-based Infrastructure and Energy Alternatives.