Former Domino’s Pizza accountant slapped with nearly $2M penalty for insider trading

A previous Domino’s Pizza accountant has been requested to fork out a nearly $2 million penalty for insider trading in the company’s inventory, the Securities and Exchange Commission reported Thursday. 

Bernard L. Compton utilized private money knowledge he acquired as an accountant at Domino’s corporate business to trade in advance of 12 of the company’s earnings announcements amongst 2015 and 2020, the SEC said in a push release. 

A Domino’s Pizza restaurant is observed in Los Angeles, California. (Reuters Shots)

The SEC stated Compton allegedly utilised many diverse brokerage accounts belonging to himself and his spouse and children associates to make these trades – top to extra than $960,000 in illicit income. 

An SEC complaint filed previous week accused Compton of violating the antifraud provisions of the Securities and Exchange Act of 1934. 

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The SEC stated Compton consented to the court’s get issued Tuesday that permanently enjoins him from violating these provisions and orders him to pay out a civil penalty of far more than $1.9 million. Compton even further agreed to be suspended from appearing and practising just before the SEC as an accountant – which signifies he can not participate in the economical reporting or audits of general public businesses. 

Compton neither admitted nor denied the allegations. On the net court information do not listing an legal professional who could communicate on his behalf. 

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FOX Business enterprise has reached out to Domino’s Pizza for comment but did not hear again before publication.