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Coffee roaster employee faces insider trading charges

Individuals who work in the information technology department of their companies may find that they have access to an incredible wealth of financial information for the company. By scrutinizing proposed press releases, emails, and unreleased profit and loss statements, it may be possible to obtain insider information before it is released to members of the public. While it may be tempting to use this information for personal gain, such conduct is illegal and forcefully policed. As such, what may seem to be a few harmless phone calls resulting in a few extra dollars in a brokerage account can lead to an arrest on white collar crime charges.

A 35-year old man is facing insider trader charges in the U.S. District Court in Connecticut after being accused by the Securities and Exchange Commission of improperly profiting from information obtained during his employment at Green Mountain Coffee Roasters. According to the charges, between 2010 and 2013, the man accessed company information available to him as a system administrator. Then, he and a friend allegedly traded on the information prior to the company’s quarterly report announcements. This scheme allegedly netted the two more than seven million dollars combined. However, the man is now facing some tough times. He has been terminated from his job, the SEC has frozen his assets, and he likely faces a jury trial.

When a person is faced with an insider trading trial, it can seem unreal and result in a great degree of stress. It is best to immediately contact experienced legal counsel in order to set forth the most aggressive defense possible to fight the charges.  

Source: VT Digger.org “Injunction delayed for former GMCR employee accused of insider trading,” Hilary Niles, Aug. 14, 2013