US authorities yesterday announced a slew of insider trading charges accusing 7 individuals of creating more than $5 million in profit based on tips from a Bank of America employee on pending corporate transactions, including Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical.

Both the alleged tipper, Daniel Rivas, and James Moodhe, father of Rivas’ girlfriend, pleaded guilty to charges of fraud, conspiracy and making false statements to Federal Bureau of Investigation agents.

Five other defendants were arrested separately on Wednesday and changed in a 54-count indictment. All of the defendants in the case are facing related US Securities and Exchange Commission civil charges.

Prosecutors claim that Rivas, who worked in BoA’s capital markets tech group, leaked non-public information about potential mergers, acquisitions and tender offers more than 50 times.

Trading reportedly occurred in 3 overlapping events between August 2014 and April 2017 and involved a number of transactions, including Abbott and St. Jude. A total of 30 transactions were involved, according to the SEC.

Moodhe reportedly generated more than $2 million in profit from Rivas’ tips, which came more frequently as Rivas romantic relationship with Moodhe’s daughter progressed. Tips given to Moodhe were reportedly passed on to a friend, Michael Siva, who worked for a brokerage firm and made several hundred thousand dollars.

Material from Reuters was used in this report.

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