Federal prosecutors charged a Long Island man with insider trading yesterday after he supposedly sold an advance earnings report to an undercover FBI agent for $7,000.
Damian Perna, 30, who works at Merrill Lynch, obtained draft earnings reports for several publicly traded firms before they were released, according to charges.
Perna, who lives in Oceanside, joined forces with unidentified cohorts and used the illegal information to make a series of trades from June 2011 through last October, said US Attorney Loretta Lynch.
Officials emphasized that Perna’s alleged misconduct took place before he worked at Merrill Lynch.
Getty Images
Loretta Lynch
Perna pleaded not guilty at a hearing yesterday.
Prosecutors told the judge that Perna had advance reports for Consolidated Graphics, Miller Industries and the Alamo Group — each listed on the New York Stock Exchange.
Magistrate Judge Ramon Reyes released Perna on $100,000 bond.
mmaddux@nypost.com
LI man, ‘insider,’ arrested
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