The Hollywood producer responsible for such films as
“Frida,” “Eve’s Bayou” and the horror series “Leprechaun” has agreed to settle
charges on insider trading with the Securities and Exchange Commission, the NY
Times’ Dealbook reports.
The agency accused the producer, Mohammed Mark Amin, of
trading on confidential information he gleaned from his role as a board member
at DuPont Fabros Technology, which warehouses computer servers. The agency also
said his brother, cousin and three friends traded on the tips related to DuPont
Fabros deals. Together, the group notched more than $600,000 in illicit gains
by purchasing stock in the company before it announced a major new business
expansion. The six men agreed to pay almost $2 million to the S.E.C. to settle
the case.
“Mark Amin
disregarded his board responsibilities and betrayed shareholders at DuPont
Fabros in favor of giving his circle of relatives and friends an inside scoop
to trade on nonpublic information,” said John M. McCoy III, associate regional
director of the S.E.C.’s Los Angeles office.
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