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

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Nevada Nyheter

Ontrak,Inc.,Corporate Crime

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.

LOS ANGELES — The former CEO and chairman of Ontrak, a publicly traded health care company based in Nevada, was found guilty Friday of a multimillion-dollar insider trading scheme.

In a statement announcing the conviction, the Justice Department described it as the first case it has prosecuted exclusively based on what is known as Rule 10b5-1, which allows company insiders to create a predetermined plan to sell shares while also setting limits on certain trading practices.

 

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