Hollywood producer accused of insider-trading

AP News
Posted: May 08, 2012 3:24 PM
Hollywood producer accused of insider-trading

A Hollywood producer and five of his relatives and friends have agreed to pay $1.9 million to settle civil insider-trading charges.

The Securities and Exchange Commission said Tuesday that Mohammed Mark Amin gained advance information about expansion plans of DuPont Fabros Technology because he was on its board.

The SEC says Amin passed the tip to his brother, his cousin and a friend. The three traded company stock using the information and Amin's brother passed it to two other people, who also traded on it, the SEC says.

Amin is credited as producer or executive producer for more than 75 movies, including "Frida," "Eve's Bayou" and four films in the "Leprechaun" series.

As part of the settlement, Amin is barred from serving as an officer or director for any public company for 10 years.

His lawyer didn't immediately return a telephone call seeking comment.

Amin became a director of DuPont Fabros in 2007; he resigned from the board in February 2011. The company builds and operates data centers used to house other companies' computers.