- Associated Press - Saturday, November 14, 2015

NEWARK, N.J. (AP) - Federal officials in New Jersey say a southern California man who owned and operated a stock-trading business has been indicted on insider-trading charges.

U.S. Attorney Paul Fishman says 58-year-old Steven Fishoff of Westlake Village, California, was indicted Friday on one count of conspiracy to commit securities fraud and four counts of securities fraud.

Authorities say Fishoff and others obtained nonpublic information related to publicly traded companies and made transactions on that information before it became public.

It happened between June 2010 and July 2013.

Fishman says the trading netted almost $4 million in illicit profits.

It’s unclear whether Fishoff has an attorney.

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