Officials say a police chief in Massachusetts charged with insider trading that allegedly netted a group of men more than $2.2 million in illegal profits will resign. Dighton Police Chief Shawn Cronin is among five men charged in the insider trading scheme. The U.S. Attorney's Office in the Southern District of New York says the men traded in stocks and options based on confidential information about one pharmaceutical company’s acquisition of another company. Dighton reserve officer Joseph Dupont, a friend of Cronin, was vice president of Boston-based Alexion Pharmaceuticals, Inc. when he learned the firm was going to purchase Portola Pharmaceuticals, Inc. Dupont allegedly told Cronin about the deal in April 2020, before it was made public.
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