Two Auto Engineers Charged With Insider Trading

United States Attorney for the Southern District of New York, Jay Clayton, and Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation ("FBI"), James C. Barnacle, Jr., announced today the unsealing of an Indictment charging MICHAEL STAMP and MARCUS PLANK with securities fraud. The charges arise from an alleged insider trading scheme in which STAMP and PLANK used confidential information belonging to their then-employer, Volkswagen Group, concerning a joint venture between Volkswagen and Rivian Automotive, Inc. to make hundreds of thousands of dollars in illegal profits. STAMP and PLANK were arrested today and will be presented in the U.S. District Court for the Northern District of California. The case has been assigned to U.S. District Judge Katherine Polk Failla.

"Michael Stamp and Marcus Plank's alleged exploitation of their employer's confidential information allowed them to make more than $300,000 in illegal profits," said U.S. Attorney Jay Clayton. "When people misuse confidential information for their own financial gain, they undermine the principles that allow our markets to function fairly and efficiently. Insider trading is a crime that New Yorkers want pursued with vigor. Its effects ripple through the financial system, harming ordinary investors and eroding public confidence. Today's charges underscore the commitment of this Office and our law enforcement partners to protecting the integrity of our markets and holding accountable those who choose to violate the law."

"The case of Michael Stamp and Marcus Plank shows the FBI's commitment to protecting the integrity of our financial markets," said FBI Assistant Director in Charge James C. Barnacle, Jr. "The co-defendants are alleged to have engaged in insider trading for personal gain, and we will work with our partners to identify those who threaten the United Stated economic system."

According to the allegations contained in the Indictment:(1)

Between April and July 2024, STAMP and PLANK engaged in a scheme to trade in the securities of Rivian Automotive, Inc. based on material nonpublic information concerning a multibillion-dollar joint venture between Rivian and Volkswagen Group. STAMP and PLANK were employees of a Volkswagen subsidiary and worked in the United States on temporary assignment form Germany. Through their positions, they gained access to confidential, nonpublic information concerning Volkswagen's ongoing negotiations with Rivian about a potential joint venture. Despite owing duties of trust and confidence to their employer, STAMP and PLANK began purchasing options and equity positions in Rivian shortly after learning of the joint venture discussions. On June 25, 2025, Rivian and Volkswagen publicly announced their joint venture, and Rivian's share price rose 23% the following day. STAMP and PLANK then sold their Rivian positions, with STAMP realizing approximately $250,000 in profits, PLANK realizing at least approximately $50,000 in profits, and PLANK's close family member realizing approximately $12,000 in profits. STAMP and PLANK understood their actions were illegal. For example, eight days prior to the announcement of the joint venture, STAMP searched "statute of limitations insider trading," and following the announcement PLANK's close family member searched, in German, "how is insider trading prosecuted?"

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STAMP, 31, of San Jose, California, and PLANK, 45, of San Jose, California, are each charged with one count of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison; one count of securities fraud under Title 15, which carries a maximum sentence of 20 years in prison; and one count of securities fraud under Title 18, which carries a maximum sentence of 25 years in prison.

The maximum potential sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.

Mr. Clayton praised the outstanding work of the FBI. Mr. Clayton also thanked the U.S. Securities and Exchange Commission.

This prosecution is being handled by the Office's Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Shiva H. Logarajah and Daniel G. Nessim is in charge of the prosecution.

1. ^

   As the introductory phrase signifies, the entirety of the text of the Indictment and the description of the Indictment set forth herein constitute only allegations, and every fact described should be treated as an allegation.