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OKC man sentenced for insider trading

By Mark H. Astarita, Esq.

An Oklahoma City man charged with securities fraud for insider trading has been sentenced by an Ohio federal court to a year in a Texas federal prison and fined $180,000 and settled an SEC case on the same facts, agreeing to forfeit $509,080 in profits from the trade.His "insider connection"? He was a sales representative under manufacturer?s representative agreements selling products and services to customers. As part of that agreeement, the company expressly prohibited him from disclosing or using for his own benefit, the company's confidential information.September 13, 2005, he and other sales representatives received from their sales manager two emails with attached financial reports concerning the company's business, showing a decline in revenue and sales that had not yet been publicly disclosed...continue to full post

Full post as published by SECLaw.com on November 28, 2008 (boomark / email).