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SEC Prosecutions

SEC Prosecutions

SEC Recovers Over $1.2 Million from Benefits Analyst, Three Others for Insider Trading

SEC v. Alina Welt, Andrew M. Welt, Bruce A. Welt and Bruce Hirschhorn

  • 2005
  • $1.28 Million

Defendants, including a benefits analyst who worked for Deloitte & Touche LLP and Arthur Andersen LLP, were charged with engaging in insider trading in the securities of five companies over an eighteen month period. The five companies were Renex Corp., Travel Services International, Inc., Intermedia Communications, Inc., Digex, Inc. and Sensormatic Electronics Corp. Defendant Alina Welt, through her work for the above accounting firms, learned of confidential information relating to acquisitions or tender offers for the companies and tipped the other defendants. Defendant Welt was a registered investment advisor at the time and he was barred from further association with investment advisors.

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