SEC charges four in insider trading case, inc ex-Barclays analyst

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The Securities and Exchange Commission on Thursday charged a former Barclays analyst and three others allegedly linked to an insider trading ring.

The California-based operation racked up nearly $750,000 in profits by trading ahead of four corporate announcements, the SEC said.
 
The four men have agreed to settle the charges by paying more than $1.6 million combined, according to the SEC. They neither admitted guilt nor denied the allegations.

The charges allege that John Gray, then a Barclays research analyst, and a friend, Christian Keller, traded on confidential merger information that Keller learned while working in finance at two public companies. The pair attempted to conceal the trades in a brokerage account held in a third individual's name and Gray tipped a fourth man so he could trade in advance of announcements, the SEC alleges.

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The trades allegedly started when Keller worked as a financial analyst at Applied Materials . The charges hold that Keller and Gray traded before two company acquisitions in 2009 and 2011.

The scheme continued when Keller joined Rovi Corporation in 2012, the SEC alleges.

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