Ex-Delta Petroleum CEO named in SEC complaint

SEC adds former Delta Petroleum CEO Roger Parker to civil complaint on insider trading

Associated Press

DENVER (AP) -- Federal regulators have filed a civil complaint naming former Delta Petroleum Corp. CEO Roger Parker as the center of an insider trading scheme.

The Securities and Exchange Commission previously filed civil charges against former Van Gilder Insurance Corp. CEO Michael Van Gilder, alleging he and his associates profited by trading stock of Denver-based Delta Petroleum based on inside information.

On Wednesday, the SEC said Parker was the one who gave Van Gilder nonpublic information in 2007 about Delta's earnings results and that his company was getting an investment from Kirk Kerkorian's Tracinda Corp.

In addition to being named with Parker in the SEC's civil complaint, Van Gilder has pleaded not guilty to five criminal counts of insider trading.

Parker's number is unlisted, and he couldn't be reached for comment Wednesday.

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