{"id":54196,"date":"2023-09-28T22:24:46","date_gmt":"2023-09-29T05:24:46","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=54196"},"modified":"2023-09-28T22:25:40","modified_gmt":"2023-09-29T05:25:40","slug":"former-accounting-manager-of-pasadena-storage-guilty-of-insider-trading-that-led-to-nearly-500000-in-profits","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=54196","title":{"rendered":"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits"},"content":{"rendered":"

LOS ANGELES\u00a0<\/strong><\/span><\/p>\n

A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on non-public information that the company was about to be acquired at a higher per-share price, officials stated.<\/span><\/p>\n

\"\"Then, Marco Antonio Perez sold the shares after news of the acquisition became public, resulting in nearly $500,000 in ill-gotten gains, the Justice Department announced Wednesday.<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Perez, 59, a.k.a. \u201cMarc Perez,\u201d of Glendora, is guilty of one count of insider trading, a felony. He faces up to 20 years in federal prison when he is sentenced on Oct. 5.<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 According to the plea agreement, General Finance Corp., a Pasadena-based storage and modular space company, employed Perez as an accounting manager who reported to the company\u2019s chief financial officer. <\/span><\/p>\n

\"\"He also performed assignments for the company\u2019s chairman, including printing out the chairman\u2019s emails. <\/span><\/p>\n

As a result, Perez had access to material information belonging to General Finance, including offers to buy the company, before the information was released to the investing public.<\/span><\/p>\n

Perez acquired a total of 66,585 shares of General Finance stock between March and April 2021, which he was subsequently able to sell for a total of $1,262,815 in violation of his fiduciary duty to General Finance and its shareholders as well as the business’s policy against insider trading.<\/span><\/p>\n

After receiving private letters addressed to the company’s chairman in early 2021 on the impending sale of General Finance for a price in the range of $19-$20 per share, Perez decided to buy the General Finance stock. <\/span><\/p>\n

Perez purchased 66,585 shares at prices ranging from $10 to $12.<\/span><\/p>\n

General Finance was ultimately sold to the Stamford, Connecticut-based United Rentals Inc. <\/span><\/p>\n

On April 15, 2021, United Rentals issued a press release announcing that it was acquiring General Finance for $19 per share. <\/span><\/p>\n

Before to this announcement, General Finance\u2019s share price closed that day at $12.17. The day after United Rentals\u2019 announcement, the price of General Finance shares surged from $12.17 \u2013 the closing price before the announcement \u2013 to $19 per share.<\/span><\/p>\n

Within two weeks of the announcement, Perez sold all 66,585 shares he had purchased on inside information, netting a profit of approximately $488,533.<\/span><\/p>\n

In his plea agreement, Perez also admitted to tipping off two people about the impending sale of General Finance, which also violated General Finance\u2019s policy against insider trading. <\/span><\/p>\n

Both individuals acted on Perez\u2019s inside information and made profits of $127,140 and $34,867, respectively.<\/span><\/p>\n

<\/a>Wednesday, the United States Securities and Exchange Commission announced civil charges<\/a>\u00a0against Perez stemming from his illegal activity in this case.<\/span><\/span><\/p>\n

The FBI investigated this matter.<\/span><\/p>\n

Assistant U.S. Attorneys Ranee A. Katzenstein and Steven M. Arkow of the Major Frauds Section are prosecuting this case.<\/span><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on non-public information that the company was about…<\/p>\n","protected":false},"author":1,"featured_media":54197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nFormer Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits<\/title>\n<meta name=\"description\" content=\"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjnotebook.com\/?p=54196\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cjnotebook.com\/?p=54196\" \/>\n<meta property=\"og:site_name\" content=\"American Justice Notebook\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AmericanJusticeNotebook\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-29T05:24:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-29T05:25:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raul\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raul\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196\"},\"author\":{\"name\":\"Raul\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\"},\"headline\":\"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits\",\"datePublished\":\"2023-09-29T05:24:46+00:00\",\"dateModified\":\"2023-09-29T05:25:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196\"},\"wordCount\":456,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/vspgjqafmtk.jpg\",\"articleSection\":[\"American Justice\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196\",\"name\":\"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/vspgjqafmtk.jpg\",\"datePublished\":\"2023-09-29T05:24:46+00:00\",\"dateModified\":\"2023-09-29T05:25:40+00:00\",\"description\":\"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=54196\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=54196#primaryimage\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/vspgjqafmtk.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/vspgjqafmtk.jpg\",\"width\":1600,\"height\":1200,\"caption\":\"people in a building with lights\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"name\":\"American Justice Notebook\",\"description\":\""Our liberty depends on the freedom of the press, and that cannot be limited without being lost." \u2014 Thomas Jefferson\",\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cjnotebook.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\",\"name\":\"American Justice Notebook\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"width\":675,\"height\":231,\"caption\":\"American Justice Notebook\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/AmericanJusticeNotebook\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\",\"name\":\"Raul\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"caption\":\"Raul\"},\"description\":\"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.\",\"sameAs\":[\"https:\\\/\\\/cjnotebook.com\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits","description":"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cjnotebook.com\/?p=54196","og_locale":"en_US","og_type":"article","og_title":"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits","og_description":"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on","og_url":"https:\/\/cjnotebook.com\/?p=54196","og_site_name":"American Justice Notebook","article_publisher":"https:\/\/www.facebook.com\/AmericanJusticeNotebook","article_published_time":"2023-09-29T05:24:46+00:00","article_modified_time":"2023-09-29T05:25:40+00:00","og_image":[{"width":1600,"height":1200,"url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg","type":"image\/jpeg"}],"author":"Raul","twitter_misc":{"Written by":"Raul","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cjnotebook.com\/?p=54196#article","isPartOf":{"@id":"https:\/\/cjnotebook.com\/?p=54196"},"author":{"name":"Raul","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0"},"headline":"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits","datePublished":"2023-09-29T05:24:46+00:00","dateModified":"2023-09-29T05:25:40+00:00","mainEntityOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=54196"},"wordCount":456,"commentCount":0,"publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=54196#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg","articleSection":["American Justice"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cjnotebook.com\/?p=54196#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cjnotebook.com\/?p=54196","url":"https:\/\/cjnotebook.com\/?p=54196","name":"Former Accounting Manager of Pasadena Storage Guilty of Insider Trading That Led to Nearly $500,000 in Profits","isPartOf":{"@id":"https:\/\/cjnotebook.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=54196#primaryimage"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=54196#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg","datePublished":"2023-09-29T05:24:46+00:00","dateModified":"2023-09-29T05:25:40+00:00","description":"LOS ANGELES\u00a0 A former employee at a publicly traded Pasadena-based company has agreed to plead guilty to buying more than 66,000 company shares based on","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cjnotebook.com\/?p=54196"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/?p=54196#primaryimage","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2023\/09\/vspgjqafmtk.jpg","width":1600,"height":1200,"caption":"people in a building with lights"},{"@type":"WebSite","@id":"https:\/\/cjnotebook.com\/#website","url":"https:\/\/cjnotebook.com\/","name":"American Justice Notebook","description":""Our liberty depends on the freedom of the press, and that cannot be limited without being lost." \u2014 Thomas Jefferson","publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cjnotebook.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cjnotebook.com\/#organization","name":"American Justice Notebook","url":"https:\/\/cjnotebook.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","width":675,"height":231,"caption":"American Justice Notebook"},"image":{"@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AmericanJusticeNotebook"]},{"@type":"Person","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0","name":"Raul","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","caption":"Raul"},"description":"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.","sameAs":["https:\/\/cjnotebook.com\/"]}]}},"_links":{"self":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/54196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54196"}],"version-history":[{"count":1,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/54196\/revisions"}],"predecessor-version":[{"id":54198,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/54196\/revisions\/54198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/media\/54197"}],"wp:attachment":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}