A former metro Atlanta man has been accused of insider trading by securities regulators for using privileged information shared in confidence or overheard from a friend to buy stock before a merger.
Ladislav "Larry" Schvacho, who previously lived in Lilburn and Stone Mountain and now resides in South Carolina, is accused of buying stock after learning inside information from a friend, Larry Enterline, the CEO of staffing firm Comsys IT Partners, before that company's announced sale to Manpower in February 2010.
Schvacho allegedly reaped more than $500,000 in improper gains from stock purchased in the months before the deal, according to a civil complaint filed this week by the Securities and Exchange Commission.
Ross Albert, an attorney for Schvacho, said his client denies any wrongdoing and vowed to vigorously defend the case.
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