SEC Files $1.7M Insider Trading Suit Against Cushing Broker

Law360, Dallas (May 23, 2013, 7:37 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday launched an insider trading suit against a Cushing MLP Asset Management LP private equity trader in Texas federal court, alleging he used confidential client information in 400 energy securities trades that earned him $1.7 million in illegal profits.

The SEC alleges Daniel Bergin defrauded the Dallas-based Cushing firm and its clients by using confidential information to make same-day or advance trades known as front-running, using wife Jacqueline Zaun’s brokerage accounts to conceal the activity. It claims Bergin violated...
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