On July 24, 2026, the U.S. Attorney’s Office for the Southern District of New York (“USAO”), together with the FBI’s New York Field Office, announced the unsealing of an indictment charging Michael Stamp and Marcus Plank with securities fraud arising from an alleged insider trading scheme. The USAO reports that Stamp and Plank were arrested on July 24, 2026, and charged with one count of conspiracy to commit securities fraud, one count of securities fraud under Title 15, and one count of securities fraud under Title 18 for their roles in the scheme. They are currently scheduled to appear for an arraignment/pretrial conference on August 4, 2026.
According to federal prosecutors, Stamp and Plank are auto engineers who were employed by a Volkswagen subsidiary and were working in the United States on temporary assignment from Germany. They allegedly obtained material nonpublic information (“MNPI”) during the course of their employment regarding ongoing negotiations for a multibillion-dollar joint venture between Volkswagen Group and Rivian Automotive, Inc. Federal prosecutors allege that, between April and July 2024, Stamp and Plank traded in Rivian securities based on this MNPI in violation of a duty of trust and confidence owed to their employer. After the joint venture was publicly announced on June 25, 2025, Rivian’s stock price rose by 23 percent, and Stamp and Plank allegedly sold their positions. According to the indictment, Stamp realized approximately $250,000 in profits from the trades. Plank allegedly generated approximately $50,000 in unlawful profits, while one of his close family members realized approximately $12,000 in profits as part of the scheme.
USAO SDNY Press Release | Unsealed Indictment | Docket – Minute Entry