Insider Trading Scam Allegedly Centered Around Long Valley Man
John Lazorchak and five others accused of netting $1.4 million in illicit profits and kickbacks.
A Long Valley resident and executive for a pharmaceutical company has been charged, along with five others, in a $1.4 million insider trading operation that lasted nearly five years, U.S. Attorney Paul J. Fishman announced Monday. John Lazorchak, 42, the director of Financial Reporting at Celgene, was part of a group of men who netted $1,483,749 in illicit profits and cash kickbacks, Fishman said. Lazorchak, along with Mark Cupo, 51, of Morris Plains; Lawrence Grum, 48, of Livingtston; Michael Castelli, 48, of Morris Plains; Mark Foldy, 42, of Morris Plains; and Michael Pendolino, 43, of Nashua, N.H., were involved in the years-long operation, buying and selling stock prior to major announcements made by the company, Fishman said. …
Liberty
12:18 pm on Saturday, November 24, 2012
You think close family and friends weren't there with their hands out, grinning? They sure weren't going to turn him in. The "accused" should have been thinking of their children before they got greedy and did something illegal---had to be very stupid to think they wouldn't get caught. And Squatch is right, they were probably being paid well to begin with. more ›