Investment Exec Pays $1.4M In SEC Insider Trading Suit

Law360, New York (November 30, 2012, 9:14 PM EST) -- A Connecticut-based finance executive agreed Friday to pay $1.4 million to settle claims by the U.S. Securities and Exchange Commission that he illegally profited from trading on inside information regarding the 2009 sale of Patriot Capital Funding Group Inc.

I. Joseph Massoud, the founder and managing member of Compass Group Management LLC, a Connecticut-based investment advisory firm, allegedly made more than $676,000 in illegal profits from his misuse of nonpublic information he obtained when his company entered into the bidding process for Patriot Capital, a publicly...
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