Van Gilder Insurance's Ex-CEO Indicted For Insider Trading

Law360, New York (October 26, 2012, 5:43 PM EDT) -- The FBI said Friday that a grand jury had indicted Van Gilder Insurance Co.'s recently resigned CEO on five counts of insider trading targeting his Delta Petroleum Corp. securities purchases, while a U.S. Securities and Exchange Commission investigation resulted in a civil suit over the scheme's alleged $161,000 in ill-gotten gains.

The five criminal counts encompass 8,250 shares of Delta securities and 290 Delta call options that Michael Van Gilder purchased based on tips about investment company Tracinda Corp.'s bid to buy a stake in Delta,...
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