North Carolina actuary charged with insider trading

Money (Photo: Public Domain Pictures)

CHARLOTTE, NC (AP) — A North Carolina actuary accused of insider trading ahead of a merger between two energy companies has been indicted on federal fraud charges.

A criminal indictment unsealed Friday says 44-year-old Eric Hill has been charged with fraud in connection with the purchase and sale of securities and seven counts of securities fraud.

- Advertisement -

He’s accused of making $380,000 from illegal trading based on confidential information before and after Duke Energy announced plans to purchase Piedmont Natural Gas Co. in 2015.

Prosecutors say Hill got the information from an employee of a consulting firm working with Piedmont.

He declined a request from The Charlotte Observer for comment.