Reported 8 months ago
The former CEO and chairman of the Nevada-based health care company Ontrak was found guilty of a multimillion-dollar insider trading scheme in Los Angeles. Terren Scott Peizer was convicted of securities fraud and insider trading under Rule 10b5-1 for setting up plans to sell shares and avoid $12.5 million in losses. Despite claims of innocence from Peizer's lawyers, he faces up to 25 years in prison for securities fraud and 20 years for each insider trading count, with sentencing scheduled for October.
Source: YAHOO