Bristol-Myers exec accused of insider trading

The Securities and Exchange Commission has filed civil insider-trading charges against a Bristol-Myers Squibb executive who has also been charged by federal prosecutors.The U.S. attorney's

NEWARK - The Securities and Exchange Commission has filed civil insider-trading charges against a Bristol-Myers Squibb executive who has also been charged by federal prosecutors.The U.S. attorney's office in Newark, says Robert Ramnarine made more than $310,000 in profits buying and selling stock in companies that his pharmaceutical firm was considering buying.The SEC is seeking a court order freezing the assets in Ramnarine's brokerage accounts, as well as other penalties.As part of his job, Ramnarine was assigned to check out the pension plans of firms Bristol-Myers was considering buying. Prosecutors say he used that information to enrich himself.A company spokesman says the 45-year-old East Brunswick resident has been placed on administrative leave.Bail was set at $250,000.AP wire services contributed to this report.

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