Securities and Exchange Commission v. I. Joseph Massoud: A Westport-based business executive accused of insider trading has settled a lawsuit filed by the Securities and Exchange Commission by paying roughly $1.4 million and agreeing to leave the financial industry.
The SEC alleges that I. Joseph Massoud, 44, who founded the Westport investment advisory firm Compass Group Management, got an insider trading tip prior to the sale of the Patriot Capital Funding Group, a private equity firm specializing in investments in small and mid-sized companies, also based in Westport.
