The Securities and Exchange Commission charged a former Office Depot president today with insider trading based on confidential information picked up about Bluegreen Corp. from a fellow member of a professional organization.
Mark D. Begelman agreed to pay more than $30,000 to settle the civil charges, the commission said in a statement. The SEC charged he bought Bluegreen stock before an announcement that Fort Lauderdale-based BFC Financial Corp. was acquiring the Boca Raton-based timeshare company. Begelman of Delray Beach was a member of the World Presidents’ Organization, a global professional group of current and former executives of major companies. The WPO has a written policy that discussions of a confidential nature are to be kept confidential.
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