Bristol-Myers Squibb Co. (BMY) executive Robert Ramnarine has been arrested by the Federal Bureau of Investigation and charged with insider trading, Bloomberg News reported Thursday.
The FBI alleges that Ramnarine, executive director of pensions and savings, profited by buying options of companies whose pension plans he evaluated because they were Bristol-Myers acquisition candidates.
The FBI said he bought options in ZymoGenetics Inc., Pharmasset Inc. and Amylin Pharmaceuticals Inc. (AMLN).
Paul Fishman, U.S. Attorney for the District of New Jersey, said in a statement that Ramnarine will appear in federal court in Newark, N.J., Thursday, Bloomberg reported.
Full story at http://www.bloomberg.com/news/2012-08-02/bristol-myers-executive-ramnarine-charged-with-insider-trading.html
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