A Florida man was sentenced to 13 months in prison for his involvement in an insider trading scheme that generated more than $1.6 million in profits. Along with the prison term, Stephen George received a $10,000 fine. He was also ordered to pay over $200,000 in restitution and more than $1.6 million in forfeiture.
Stephen George, a 54-year-old resident of Parkland, Florida, worked in the Finance Department of a consumer-packaged goods company based in Boca Raton. Holding various roles, including that of controller and vice president, George had access to material non-public information (MNPI) about the company's financial performance. This information pertained to a fitness drink company whose securities were publicly traded on the NASDAQ Stock Market.
On his last day at the company, April 7, 2023, George compiled a consolidated income statement reflecting the firm's financial results for the first quarter of 2023. Knowing it contained MNPI, George emailed the report to his personal email accounts.
Starting the next trading day, April 10, 2023, and continuing until May 8, 2023, George engaged in trading Company A's securities based on this information. He acquired 20,000 shares of common stock and 300 call option contracts. Following the public release of the company's better-than-expected earnings and sales for the first quarter of 2023 on May 9, 2023, the stock price rose significantly. The following trading day, George sold all his shares and options, realizing over $1.6 million in profits.
In February 2025, George pleaded guilty to one count of securities fraud. His sentence was announced by U.S. Attorney Hayden P. O’Byrne of the Southern District of Florida, Matthew R. Galeotti of the Justice Department's Criminal Division, and Acting Special Agent in Charge Brett Skiles of the FBI Miami Field Office.
The FBI Miami Field Office conducted the investigation. The Justice Department acknowledged the help of the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group. The case was prosecuted by Assistant U.S. Attorneys Eli S. Rubin and Elizabeth Young, along with Trial Attorneys Matthew F. Sullivan and Matt Kahn from the Fraud Section. Assistant U.S. Attorney Nicole Grosnoff managed asset forfeiture.
Further details about the case can be found on the websites of the United States Attorney's Office for the Southern District of Florida and the District Court for the Southern District of Florida under the case number 25-cr-60011.