The former chief executive of Van Gilder Insurance Corp. in Colorado is set to go to trial Jan. 2 on five counts of insider trading.
The Denver Post reported Michael Van Gilder pleaded not guilty to the charges Wednesday in federal court in Denver.
An indictment says Van Gilder was a close friend of an executive at the Denver-based Delta Petroleum. The indictment alleges Van Gilder traded Delta stock in late 2007 and early 2008 based on nonpublic information, including information from an executive that Delta Petroleum was doing fine despite a published report expressing pessimism.
The indictment was announced last week, one day after Van Gilder Insurance Corp. said Van Gilder was stepping down as chief executive for personal reasons.
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Libby says: 
Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’
Connecticut Court Rules That Lawyers Can’t Be Sued for Fraud
Wage and Hour Claims Among Top Threats to U.S. Employers
Cyber Attacks On Banks More Serious Than Public Realizes
E&O Insights: Restaurant and Tavern Risks
CEA’s First CIO Reflects C-Suite Trend
Golf and Country Clubs Weather the Storm
Midwest AGs Go After Storm-Chasing Roofing Companies
Sign up to receive insurance news alerts!
