The SEC announced today that on August 19, 2003, over a year after he settled the SEC's insider trading case against him, Jay Laveson was criminally indicted by the United States Attorney for the District of Vermont on insider trading, mail fraud, and wire fraud charges. The SEC announced that:

According to the indictment, Laveson was employed as a financial analyst by IDX Corporation Inc., Inc., a publicly-traded company based in South Burlington, Vermont. The indictment alleges that Laveson received confidential non-public information concerning potential merger targets for IDX and sensitive financial information about those merger targets and IDX, and he then used that information to trade in the stock of merger target companies, as well as IDX, for his own profit from early 1997 through early 1999. According to the indictment, Laveson made more than $120,000 from his insider trading. The indictment charges Laveson with one count of securities fraud, one count of mail fraud, and fourteen counts of wire fraud in connection with his insider trading activities. If convicted of all criminal charges, Laveson faces up to 310 years imprisonment and a fine of up to $4,250,000.