Business

Six charged with insider trading

NEWARK — Executives at two leading drug companies were among six people arrested Monday and charged with insider trading in what federal prosecutors said was a five-year scheme that netted more than $1 million.

Among those charged were John Lazorchak, 42, director of financial reporting at Celgene Corp., a biotech drug maker based in Summit, and Mark Cupo, 51, who held a similar position at Sanofi-Aventis, a France-based pharmaceutical company with US headquarters in Bridgewater.

Along with Mark Foldy, 42, who was a marketing executive with Stryker Corp., a medical technology company, they passed privileged information on their companies to others who would make stock trades based on the information, according to the criminal complaint released Monday.

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Lazorchak faces 26 counts of securities fraud, and Cupo faces 23. Each count carries a maximum prison sentence of 20 years. Cupo faces one conspiracy count and Lazorchak and Foldy face two apiece.

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A spokesman for Sanofi said Cupo resigned from the company ‘‘very recently’’ and Sanofi is cooperating with the investigation.

A spokesman for Celgene said in an e-mail that the company terminated Lazorchak on Monday.