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Long Valley Man Gets 16 Months in Prison for Insider Trading Scheme

John Lazorchak was one of six men to take part in five-year long fraud.

A Long Valley man at the center of a five-year, $1.4 million insider trading scheme was sentenced Tuesday to 16 months in prison, U.S. Attorney General Paul Fishman announced.

John Lazorchak, 43, was originally charged with one count of conspiracy to commit securities fraud and five counts of securities fraud. He pleaded guilty to those counts in the fall of 2013.

An investigation revealed Lazorchak, along with a ring of counterparts, collectively brought in more than $1.4 million in illicit profits by trading ahead of 11 corporate news events that Lazorchak or an associate in the scheme revealed prior to the information becoming public knowledge, Fishman said.

On top of the prison term, Judge Katherine Hayden sentenced Lazorchak to two years of supervised release and was ordered to forfeit $3,000.

At the time of the scheme, Lazorchak was director of financial reporting at Celgene Corp., a global pharmaceutical company in New Jersey. 

mommy1 April 24, 2014 at 06:37 AM
i think Tracy has kept her head high this last year, i am proud to have gotten to know her and seen how she has helped her family through this with love and spiritually. this is a time of high emotion for her...T stop reading the comments.
Laura I. April 24, 2014 at 06:38 AM
Again, sad, sad, sad...
mommy1 April 24, 2014 at 08:25 AM
jeff price has a lot of opinions
12345678 April 25, 2014 at 09:17 PM
Tracy, you would be better off not reading or responding to the comments made here.
Guy Patterson April 25, 2014 at 10:53 PM
Wow...why didn't anyone else think of offering the same advice?

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