An Oceanside financial adviser charged with conspiracy to commit insider trading is free on $100,000 bail, federal officials said Thursday.
Damian Perna conspired with others, from June 2011 to October 2012, to trade securities of public corporations registered under the Securities Exchange Act of 1934, according to court papers filed by the U.S. attorney's office.
Perna, 30, was arraigned Wednesday before U.S. Magistrate Judge Ramon E. Reyes at the federal courthouse in Brooklyn.
Federal prosecutors charged at the arraignment that "Perna obtained draft earnings reports for publicly traded companies before their public release through a contact at an investor relations firm. These companies included Consolidated Graphics, Alamo Group, and Miller Industries, which are listed on the New York Stock Exchange; and Innophos Holdings, Inc., which is listed on the NASDAQ."
In one meeting, prosecutors said, "Perna sold an advance copy of an earnings report to an undercover agent of the Federal Bureau of Investigation and was paid $7,000 in cash."
If convicted, Perna faces a maximum prison sentence of 25 years.
A phone call seeking comment from Stuart Rubin, Perna's Brooklyn-based attorney, was not immediately returned Thursday.
With Gary Dymski