Wyoming Official Charged for White-Collar Crime

Wyoming Official Charged for White-Collar Crime

The man in charge of investing Wyoming's pension system funds is on leave after being charged with insider trading.

The Security and Exchange Commission charged John Johnson on Tuesday. He's accused of buying shares of technology company Foundry Networks, Inc. in 2008 after a friend tipped him off to the company would be sold for about $3 billion. According to the complaint, Johnson made $136,000 in the deal.

Johnson wasn't working for the Wyoming Retirement System at that time. He was hired by Wyoming in 2010 and became the chief investment officer in April 2012.

The system's executive director, Thomas Williams, told the Casper Star-Tribune that Johnson was immediately placed on administrative leave and no longer is directing investments for the pension system.

Johnson's secretary didn't return a telephone call seeking comment.

First Northern Bank
view counter