Ruderman Settles With SEC: Former Business Week...

Ruderman Settles With SEC: Former Business Week radio broadcaster Seymour G. (Rudy) Ruderman has agreed to pay the Securities and Exchange Commission more than $41,000 to settle a civil suit stemming from his use of non-public information to make investments, the commission said. Ruderman, 62, pleaded guilty last year to two counts of mail fraud after he was fired by Business Week for trading on information learned from prepublication copies of the magazine’s “Inside Wall Street” column. U.S. District Judge Robert J. Ward sentenced the financial journalist on April 5 to six months in jail, fined him $5,000 and placed him on probation for three years after his release from jail for the illegal stock market trades. The U.S. district court in Manhattan will set up a bank account to repay investors who lost money because of Ruderman’s illegal trades.