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Insider Trading

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$1M Federal Insider Trading Scheme: Sayville Man Implicated, Feds Say $1M Federal Insider Trading Scheme: Sayville Man Implicated, Feds Say
$1M Federal Insider Trading Scheme: Sayville Man Implicated, Feds Say A Westchester man and Long Island resident are among four people charged in connection with their alleged involvement in an insider trading scheme that netted over $1 million in profits, federal officials announced. David Cooper, age 38, of the Westchester village of Larchmont, and John Lowe, age 61, of the Suffolk County hamlet of Sayville, were arrested on charges of conspiracy to commit securities fraud and securities fraud, the US Attorney's Office for the Eastern District of New York announced on Wednesday, Jan. 15.  Three other men—Randy Grewal, 54, of Anthem, Arizona, and Richar…

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by Ben Crnic
Business
Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say
Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say The former CEO of a New York telecommunications company is accused of engaging in insider trading just hours after he was fired, dodging thousands in losses. Ken Peterman, 67, was arrested Wednesday, Dec. 11, on federal charges of insider trading and securities fraud. Prosecutors said Peterman exploited non-public information about Melville-based Comtech Telecommunications’ poor financial performance and his impending termination to sell company shares, avoiding significant financial losses. According to the US Securities and Exchange Commission (SEC), he violated two trading blackouts whe…

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by Michael Mashburn