Business Services Industry
SEC files insider trading charges against former New Hampshire bank executive.
Knight Ridder/Tribune Business News, November, 2004
By Karen Spiller, The Telegraph, Nashua, N.H. Knight Ridder/Tribune Business News
Nov. 17--CONCORD, N.H. -- The Securities and Exchange Commission has filed federal insider trading charges against a former executive at Granite State Bankshares Inc. for allegedly tipping off a friend that the publicly traded company was about to be acquired, and then profiting off of shares he bought for himself and his family.
Kevin Hobbs, 46, of Mont Vernon, who was administrative vice president and director of internal audit at Granite State, is accused of making 19 transactions in October and November 2002 and profiting $95,109 from his knowledge of the merger before it became public, according to the SEC complaint filed Tuesday in U.S. District Court in...
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