CHICAGO (WBBM NEWSRADIO) — Federal authorities on Wednesday charged an Evanston woman with securities fraud for allegedly using insider information she learned from her husband to purchase shares of a company ahead of its acquisition.
Denise Grevas, 60, made $286,960 in August and September 2019 from the purchase and sale of securities in a Washington state-based pharmaceutical company that was acquired by an overseas-based pharmaceutical company that had an office in Deerfield, according to federal authorities. Her husband worked in that local office.
The 60-year-old woman allegedly used material, non-public information about the expected acquisition to purchase shares in the Washington company ahead of a public announcement of the acquisition on Sept. 16, 2019, the charge alleges. After the announcement, the Washington company’s stock price increased and Grevas sold her shares, the charges alleged.
The Securities and Commodities Fraud Section of the U.S. Attorney’s Office in Chicago charged Grevas with one count of securities fraud. She faces up to 20 years in prison.
Arraignment in federal court in Chicago has not yet been scheduled.
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