Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

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.

Continue reading below

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.

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.

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.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week