June 20, 2013

Former exec. pleads guilty to insider trading

BY: AP Staff Writer DECEMBER 18, 2012 | MODIFIED: DECEMBER 19, 2012 AT 12:01 AM
Leave a comment

ATLANTA (AP) — The U.S. Attorney's Office in Atlanta says the former head of investor relations for Carter's Inc. has pleaded guilty to conspiracy to commit securities and wire fraud.

Officials announced Tuesday that Eric M. Martin traded stock between 2005 and 2009 based on nonpublic information about the company's finances when employed by the major children's clothing company.

In a news release, the Attorney's Office said Martin also shared sensitive company information with a former Wall Street analyst before it was released publicly. He was fired in 2009.

As part of his plea agreement, officials said Martin acknowledged he was responsible for between $2.5 million and $7 million in the insider-trading scheme.

The 42-year-old could receive up to 25 years in prison. It was not known if he had a lawyer.

View article comments Leave a comment

More from washingtonexaminer.com

From the Weekly Standard

  • June 17, 1953

    Today, speaking at the Brandenburg Gate, President Obama paid appropriate tribute to the brave East Germans who rebelled 60 years ago against Communist dictatorship:

    Read More...
  • Problems of the Second Generation

    The Boston Marathon bombings highlighted, once again, the challenges of assimilating Muslim youth. And while the onus of accountability ought not rest exclusively on Muslim Americans, it...

    Read More...
  • Release Osama Bin Laden’s Files on Taliban

    The Obama administration announced on Tuesday that it was moving forward with its attempt to negotiate with the Taliban, which has opened a long-awaited political office in Doha, Qatar. The...

    Read More...