"High-profile Figures Face Charges in Unlawful Trading and Insider Trading Schemes"
Dighton Police Chief Shawn Cronin and four others, including an executive at Alexion Pharmaceuticals, have been charged by the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice for their involvement in an unlawful trading scheme. The SEC alleges that Cronin received confidential information about Alexion's acquisition of Portola Pharmaceuticals and shared it with his friends, who then advised him on trading strategies. The four men made over $2.3 million in illegal gains, and others tipped off by them made over $1.7 million. Cronin has been placed on paid administrative leave pending an internal investigation.