A man from Gibsonia has been sentenced after pleading guilty to insider trading of Dick’s Sporting Goods.
According to the U.S. Department of Justice, 62-year-old Frank Poerio will serve a year and a day in federal prison followed by three months of home detention and 12 months of supervised release.
Poerio learned of sensitive information from an employee in Dick’s Sporting Goods data analytics division between 2019 and 2021. He then took that info and made 160 trades of the company’s securities on the New York Stock Exchange.
Poerio also must pay a fine of $20,000 as well as repay the $823,000 in profits he made on those trades.
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