Reuters – SEC Charges Businessman in Tracinda-Linked Insider Trading Plan
U.S. securities regulators on Monday charged a Denver businessman with reaping "substantial" profits using inside information from the former chief executive of Delta Petroleum Corp about an impending investment in the company, Reuters reported. Scott Reiman, founder and president of investment firm Hexagon Inc, agreed to pay nearly $900,000 to settle the civil case brought by the Securities and Exchange Commission, the agency said. The case against Reiman comes five months after the SEC charged Delta's former chief executive, Roger Parker, with leaking the news that Beverly Hills-based private investment firm Tracinda Corp had agreed to buy a 35 percent stake in Delta for $684 million.
16 April 2013•2 mins read
