A former vice president of underwriting at United HealthCare, Minnetonka, Minn.. was sentenced yesterday to 3 1/2 years in prison for insider trading. Michael Mooney, 48, also was ordered to pay a $150,000 fine and forfeit $70,000 in relation to his conviction last October on 17 counts of mail and securities fraud and money laundering. Mooney was accused of illegally trading upon insider information when he bought call options on United HealthCare stock in 1995 before its merger with MetraHealth Cos., McLean, Va. Mooney learned of the proposed acquisition because he performed a financial analysis of the transaction. The stock rose in value after news reports of the deal, and Mooney netted nearly $275,000 when he sold his options. He will begin his sentence Oct. 2. -- by Mark Taylor
Former HMO exec sentenced for insider trading
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