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Re:

‘There’s no tracing Xbox 360 chat,’ claimed Wall Street banker charged with insider trading

An indictment attributes the “no tracing” boast to Anthony Viggiano, but the cited record does not show that Xbox chat logs were recovered or exposed the insider-trading scheme.
From TheFinanceBase Team2 min to read
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The line came from Anthony Viggiano, according to a transcript of a recorded conversation reproduced in a federal indictment. It was his claim about Xbox 360 chat—not a finding by investigators that the service was untraceable. DOJ later reported that Viggiano and two associates pleaded guilty to securities fraud, but the cited court and DOJ accounts do not establish that Xbox chat logs were recovered or that they exposed the scheme.

Who said “there’s no tracing Xbox 360 chat”?

The indictment attributes the remark to Anthony Viggiano during a recorded conversation with Christopher Salamone. The conversation took place after FBI interviews in or about June 2023, according to the indictment. Viggiano is quoted as saying: “Because similar to you . . . signal, or like XBOX 360 chat, there’s no tracing that. Good luck ever finding that.”

The quote appears in the indictment’s transcript; it is not an independent technical assessment of Xbox 360, Microsoft’s data practices, or what law enforcement could obtain. The indictment does not establish that investigators recovered Xbox chat records. Read the indictment.

What did prosecutors allege about the trading scheme?

Prosecutors alleged that Viggiano, a former employee of two financial firms, shared confidential information about potential transactions with Salamone and Stephen Forlano, who traded securities. The September 2023 charging announcement said Forlano passed information to friends and family through several means, including a video-game console’s audio-chat function. That is an allegation about the alleged communications—not proof that specific Xbox 360 logs were obtained or used to identify the trades.

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The September 28, 2023 indictment set out allegations involving tips connected with multiple transactions and included the recorded conversation. The U.S. Attorney’s Office for the Southern District of New York later described the case as involving at least eight transactions in its January 11, 2024 plea announcement. The earlier charging announcement had described at least seven. DOJ’s charging announcement and plea announcement provide the government’s accounts.

Did Xbox chat expose the scheme?

The cited official accounts do not say that Xbox 360 chat logs were traced, subpoenaed, recovered, or decisive in the investigation. They establish that prosecutors alleged use of a video-game console audio-chat function and that the indictment reproduces Viggiano’s claim that such chat could not be traced. Those facts do not show how investigators uncovered the alleged trading or what communications data, if any, they obtained.

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So the careful answer is: the record cited here supports that Viggiano made the boast and that prosecutors alleged console audio chat was one way information was passed. It does not establish that Xbox chat was untraceable—or that tracing or recovering it solved the case.

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What happened to the defendants?

Charges in the September 2023 indictment were allegations. DOJ reported that Salamone had pleaded guilty on September 21, 2023. On January 11, 2024, DOJ announced that Viggiano and Forlano pleaded guilty to securities fraud. Its release said Viggiano and Salamone agreed to split total illegal profits of over approximately $300,000, and that Forlano himself illegally profited at least approximately $100,000. These are DOJ’s characterizations of the case.

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The cited releases establish the guilty pleas, but do not establish the defendants’ sentencing or later case status. The plea announcement is available from the U.S. Attorney’s Office for the Southern District of New York.

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