Former Agnico-Eagle Mines VP convicted of insider trading
A former executive of Agnico-Eagle Mines Ltd. was found guilty in an Ontario court Friday of insider trading, the Ontario Securities Commission said.
However, Barry Landen, who had been the vice-president of corporate affairs, was found not guilty of tipping Stephen Diamond, a chartered accountant. Diamond was also found not guilty of insider trading.
The OSC had alleged that Landen, whose job gave him access to inside knowledge at the gold mining company, sold shares on two occasions in 2003 when he had information that had not been disclosed to the investing public.
The OSC also alleged that he passed insider information to Diamond.
Landen was fired by Agnico-Eagle in 2004 after the OSC launched its investigation. The probe led to charges being laid against the two men in 2005.
With files from the Canadian Press
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