Daniel Rivas, a former IT executive at Bank of America, has been arrested for misusing his access to company systems for personal financial gain.

Rivas was able to access confidential details on corporate transactions which he passed on to his friends to help them earn profits.

While seven people have been accused of using Rivas' tips to earn million via stock trading, both Rivas and the father of his girlfriend have been arrested for fraud, conspiracy and for lying to federal agencies. Read more