CHEYENNE, Wyo. (AP) - The Wyoming Retirement System has fired its chief investment officer following federal insider trading charges on transactions that predate his state employment. Retirement system Executive Director Thomas Williams says he dismissed Chief Investment Officer John Johnson of Arvada, Colo., on Monday. An attempt to reach the 46-year-old Johnson for comment wasn't successful.
The Security and Exchange Commission last month filed insider trading charges against Johnson. He's accused of buying shares of a technology company in 2008 after a friend tipped him off that the company was to be sold. According to the complaint, Johnson made $136,000 on the deal. Federal prosecutors in New York have announced Johnson pleaded guilty last month to securities fraud charges related to the same transactions. Johnson started working for the Wyoming Retirement System in 2010.