On June 3, Steven Fishoff, Ronald Chernin, Steven Costantin, and Paul Petrello were arrested and charged in the District of New Jersey for their alleged participation in an insider trading scheme.  The four men are presidents and owners of multiple trading entities. The government alleges that they made over $3.2 million in profits over the course of three years by trading on the basis of material, nonpublic information.  According to the complaint, Fishoff, Chernin, Constantin, and an unnamed trader regularly approached investment bankers to discuss participating in stock offerings by publicly traded companies.  The investment bankers would then provide the men with confidential information in exchange for an agreement that they would not disclose or trade based on that information.  They allegedly traded anyway and passed information along to Petrello so he could trade as well.  All four defendants have been charged with one count of conspiracy to commit securities fraud.  Additionally, Fishoff faces four counts of securities fraud, while Chernin and Petrello are each charged with two counts, and Constantin is charged with one count.  United States v. Fishoff, 15-mj-3622 (D.N.J.).   DOJ Press Release