A former high-ranking executive from a Boca Raton-based consumer goods company was given a 13-month sentence for participating in a sizable insider trading operation. On the decision, the U.S. Attorney's Office for the Southern District of Florida reported that Stephen George, 54, of Parkland, was also fined $10,000 and ordered to pay upwards of $1.8 million in restitution and forfeiture.
Legal documents reveal that during his tenure at Company A, a NASDQ-listed company known for its fitness drink, George exploited his access to non-public financial data. While serving as controller and vice president, George orchestrated the purchase of 20,000 shares and 300 call option contracts based on this insider information – a scheme running from April 10 to May 8, 2023, following his departure from the company on April 7. Subsequently, the company's financial outcomes, which outpaced market expectations, were publicly disclosed, according to a statement from the U.S. Attorney's Office.
George's trades, which were enacted immediately after his employment concluded and just before Company A publicly announced its record-breaking quarterly revenue, resulted in personal gains surpassing $1.6 million. After selling off the securities the following trading day, the former executive's profits were realized almost immediately upon the stock price's sharp rise. By pleading guilty to one count of securities fraud, George accepted responsibility for his actions in February 2025.
The U.S. Attorney's Office announcement acknowledged the efforts of various agencies in securing the conviction. The investigation spearheaded by the FBI's Miami Field Office, with the Financial Industry Regulatory Authority lending a helping hand, culminated in the accountability of George for his illicit trading activities.
Prosecuting the case were Assistant U.S. Attorneys Eli S. Rubin and Elizabeth Young, along with Trial Attorneys Matthew F. Sullivan and Matt Kahn from the Fraud Section of the Justice Department's Criminal Division. Asset forfeiture was managed by Assistant U.S. Attorney Nicole Grosnoff. The U.S. Attorney's Office appreciates the collaborative endeavor that led to yesterday's sentencing. For more information and related court documents, the public can access them on the District Court for the Southern District of Florida's website or the respective case number 25-cr-60011 via the PACER system.
