Former insurance executive Michael Van Gilder has pleaded guilty to securities fraud in an insider-trading case connected to billionaire Kirk Kerkorian’s 2008 investment in Denver-based Delta Petroleum.
According to the Denver Post, Van Gilder admitted Wednesday he traded on details of Kerkorian’s investment that were provided to him by an unidentified, high-level Delta executive.
Van Gilder is also a co-defendant in a civil lawsuit filed by the U.S. Securities and Exchange Commission related to the Kerkorian deal, a $684 million investment that sent Delta’s sagging stock soaring when it was announced in 2007.
Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Topics Fraud
Was this article valuable?
Here are more articles you may enjoy.
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud 
World’s Largest Retirement Community Taps Muni Market to Help Build More Homes 
Update: Catastrophe Bond Investors Told to Brace for Jamaica Payout 
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
