NEW YORK, June 3 (Reuters) - A former investment adviser at
Oppenheimer & Co Inc has been arrested on charges that he traded
on inside information supplied by a Pfizer Inc (NYSE:PFE) PFE.N employee
about potential acquisitions it was considering, federal
prosecutors said Friday.
David Hobson, who during the scheme also worked for a unit
of Royal Bank of Canada RY.TO , was charged in an indictment
filed in Manhattan federal court with conspiracy securities
fraud for trading on the inside tips.
The former Pfizer employee, Michael Maciocio, secretly
pleaded guilty on May 20 to conspiracy and securities fraud
charges, a spokeswoman for Manhattan U.S. Attorney Preet Bharara
said.