Kevin Heron warned his colleagues about the dangers of insider trading, but he apparently didn’t think those warnings applied to himself. On July 19 a Philadelphia jury convicted Heron, the former general counsel of Amkor Technology Inc., of using nonpublic information while buying and selling shares in his company and another business. He now faces a sentence of at least five years in prison and a potential fine of up to $20 million.
Jurors found that Heron traded in advance of confidential Amkor news, including adverse earnings reports and a joint venture that the company planned with International Business Machines Corp. Prosecutors said that Heron made almost $290,000 over the course of more than 50 trades in Amkor stock from October 2003 to June 2004.
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