Ameriprise Adviser Found Guilty Of Insider Trading, Perjury

Law360, Philadelphia (November 15, 2012, 5:21 PM EST) -- A Pennsylvania federal jury Thursday found an Ameriprise Financial Services Inc. adviser guilty of securities fraud and perjury in a case surrounding his purchases of stock in a soon-to-be acquired insurance company in 2008.

The jury took almost four hours to determine that Timothy McGee had acted on insider information when he increased his position in Philadelphia Consolidated Holding Corp. in July 2008, shortly before the company was acquired by Tokio Marine Holdings Inc., and that he subsequently lied to the U.S. Securities and Exchange Commission...
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