Texas Chemical Executive Accused: The auditor of...
Texas Chemical Executive Accused: The auditor of a Texas chemical company was accused of trading on inside information--some of it gleaned from executives’ expense account records--about a planned merger with a German concern. Regulators said Edward J. Ruggiero, 33, head auditor of Houston-based Vista Chemical Co., made $673,250 in illegal trading profits using confidential information about merger talks with RWE-DEA AG, a German manufacturer. The SEC also accused Ruggiero’s friend, Christopher S. Parker, 32, a salesman for another chemical company, of making $203,556 in illegal profits in the scheme.
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