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The Securities and Exchange Commission continues to cast its insider trading nets, and on July 16 it caught the mayor of a small South Carolina seaside city. SEC lawyers in San Francisco accuse William Rauch, mayor of Beaufort, S.C., of buying up shares of Alameda biotech company Advanced Cell Technology Inc. ahead of a 2006 public announcement that sent the stock price up from 40 cents a share to $1.83 before settling at 96 cents.
July 17, 2008 at 05:05 AM
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The original version of this story was published on Law.Com
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