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Former VP of Stamford company accused of insider trading

February 05, 2016 11:00 pm • Last Updated: February 07, 2016 12:45 am

NEW HAVEN (AP) — A former executive of a Stamford-based company has been accused of insider trading.

Connecticut U.S. Attorney Deirdre Daly says 45-year-old Dennis Hamilton, of Norwalk, was arrested Friday on a criminal complaint charging him with securities fraud-insider trading.

Hamilton was vice president of tax at Harman International Industries, Inc., a publicly held company.

Harman is accused of allowing directors to buy or sell Harman securities in the public market during a declared trading period window.

Authorities say Hamilton was on Harman's insider trading list and in October 2013 received non-public information about Harman's financial results. Hamilton then purchased Harman shares, gaining more than $130,000.

The Securities and Exchange Commission announced Friday related civil charges against Hamilton.

Hamilton was released on $2 million bond.

It's unclear whether he's represented by an attorney.

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