TRENTON, N.J. (AP) — A former executive with pharmaceutical company Bristol-Myers Squibb has been sentenced to a year and a day in prison for insider trading, and ordered to forfeit about $325,000.
A federal judge in New Jersey also Wednesday ordered 46-year-old Robert Ramnarine of East Brunswick, N.J., to pay a $10,000 fine.
Ramnarine was employed by New York-based Bristol-Myers from 1997 to August 2012 and held a variety of high-level positions. In those jobs he was involved in evaluating potential acquisition targets.
As part of his plea, he admitted receiving about $310,000 in illicit gains from trading in stock options of Amylin Pharmaceuticals Inc. and several other targets, including ZymoGenetics Inc. and Pharmasset Inc.
In addition to his prison term, Ramnarine will have to serve two years of supervised release.
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