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MINNEAPOLIS--Former United HealthCare Corp. Vp Michael Mooney has been sentenced to more than three years in prison and ordered to pay $150,000 on charges of insider trading.
Mr. Mooney was convicted in October 2001 of buying options to purchase Minneapolis-based United HealthCare stock in 1995 while he was a member of a company team investigating the potential acquisition of McLean, Va.-based MetraHealth Cos. Inc.
Mr. Mooney later sold the securities he purchased with the options and made a profit of about $275,000, according to the complaint filed by the Securities and Exchange Commission that led to his conviction.