NEW YORK - A former Ernst & Young partner and a Philadelphia investment banker were charged with insider trading yesterday in an indictment unsealed in Manhattan.
James Gansman, 48, the former partner, and Donna Murdoch, 44, the investment banker, were charged in U.S. District Court with and 11 counts of securities fraud.
They are accused of joining a scheme to trade illegally on seven potential merger and acquisition transactions that involved clients of Ernst & Young.
Prosecutors said Gansman, of Manhattan, provided tips and Murdoch, of Malvern, Pa., used them to trade securities in personal accounts, netting more than $390,000 in profits. *