Skip to Content
AP-National

Ex-CEO of Nevada-based health care company Ontrak convicted of $12.5 million insider trading scheme

By
Published 6:34 PM

LOS ANGELES (AP) — The former CEO of a publicly traded health care company based in Nevada has been found guilty of a multimillion-dollar insider trading scheme. A federal jury in Los Angeles convicted Terren Scott Peizer on Friday. The Justice Department says it’s the first case it has prosecuted exclusively based on a special trading plan that lets company insiders create a predetermined plan to sell shares while also setting limits on certain trading practices. Authorities say Peizer violated some of those limits when he set up plans in 2021 to sell shares of Ontrak, after learning the company’s largest customer was terminating its contract. One of Peizer’s lawyers says they will appeal.

Article Topic Follows: AP-National

Jump to comments ↓

Associated Press

Related Articles

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content