A former Mylan Vice President of global operations information technology received some very valuable, nonpublic information from Mylan’s former chief information officer. I guess the CIO would be the guy with the most info about Mylan. The VP used the information (advance notice of drug approvals) to trade in stock options in Mylan. Too clever by half, the VP tried to conceal the transactions by making them overseas in Indian rupees.
However, the Securities Exchange Commission is into analytics. That is, they watch trading patterns and then match those patterns with releases of information. Once you have that information charted together, nailing the culprits is not difficult. The VP entered a guilty plea. The SEC’s investigation is continuing.The CIO was not named in the indictment.