Bristol-Myers Exec Charged With Insider Trading

A Bristol-Myers Squibb executive has been charged with insider trading.

The U.S. attorney's office in Newark says Robert Ramnarine bought and sold stock in companies that his pharmaceutical firm was considering buying.

As director and later executive director of pension and savings investments, Ramnarine was assigned to check out the pension plans of firms under consideration for purchase.

Authorities say his illegal trades made him about $310,000 in profits from 2010 through this year.

He is due in federal court in Newark later Thursday.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)