Ex-Phlow exec, cousin arrested in Kodak insider trading scheme
A former pharmaceutical company executive and his cousin were arrested Thursday morning for an insider trading scheme based on a Covid-related contract.
A DOJ announcement detailed the charges today, accusing the pair of “multiple counts of securities fraud and conspiracy to commit both wire fraud and securities fraud in connection with a scheme to commit insider trading,” according to the US Attorney’s Office for New York’s Southern District. The pair had allegedly made more than $1.2 million in profit from trading Kodak shares with knowledge of a federal contract.
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