A Chicago man who used insider information he got from his spouse, who worked at a biotech company, to make nearly $100,000 from buying and selling stock options will now face charges in a federal court, the US Attorney’s Office for the Northern District of Illinois said Wednesday.
The spouse and companies involved are unnamed by the attorney’s office and in court records.
The “suburban Chicago man,” Brian Rubin, is facing accusations of buying stock options in a Colorado-based biotech company before it was announced that it would be acquired by a “large pharmaceutical company” in June 2019.
He made $90,450 thanks to information about successful product development and the upcoming acquisition that he got from his wife, who was an account access director for the biotech company’s Midwest operations. The acquisition by the New York-based pharma company would lead to Rubin’s spouse losing her job,…
Click here to view original post
