A man from Gibsonia is pleading guilty to insider trading of Dick’s Sporting Goods.
62-year-old Frank Poerio pleaded guilty to four counts of securities fraud this week.
According to the DOJ, Poerio learned of sensitive information from an employee in Dick’s Sporting Goods data analytics division. He took that info and made 160 trades of the company’s securities on the New York Stock Exchange.
Officials say Poerio made $823,000 in profits on those trades.
He faces up to 20 years in prison and a fine up to $5 million.
