SPAC Controller Pleads Guilty to Insider Trading Amid Civil Suit
The charging document says Robert Del Prete must forfeit to the United States all property derived from the proceeds traceable to his commission of the offense.
September 19, 2023 at 03:50 PM
3 minute read
A New Jersey man who was a controller at a special purpose acquisition company has been hit with civil and criminal claims in an alleged scheme to profit from insider trading.
Robert Del Prete of Brick pleaded guilty to a one-count information on Monday for a stock deal that generated $60,170 based on a stock deal that he carried out using nonpublic information about a pending merger, according to documents from a case brought by U.S. Attorney Philip Sellinger.
And the U.S. Securities and Exchange Commission brought a separate case accusing Del Prete of violating Section 10b of the Securities Act of 1934.
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