Pasadena Storage Business’s Former Accounting Manager Receives Prison Sentence for Insider Trading

Former General Finance Corp. Employee Sentenced to Federal Prison for Insider Trading Scheme

LOS ANGELES – Marco Antonio Perez, also known as “Marc Perez,” was sentenced to nine months in federal prison for engaging in an insider trading scheme that resulted in nearly $500,000 in illegal profits. Perez, 60, of Glendora, exploited his position as an accounting manager at General Finance Corp., a Pasadena-based company, to purchase over 66,000 company shares based on non-public information about an impending acquisition.

United States District Judge Fernando L. Aenlle-Rocha highlighted Perez’s abuse of trust and violation of insider trading laws in reaching the sentencing decision. Perez not only purchased stock for personal gain but also tipped off others close to him, allowing them to profit from the confidential information as well.

Perez’s actions came to light when General Finance was acquired by United Rentals Inc., a leading equipment rental business, at a premium price of $19 per share. Prior to the acquisition announcement, General Finance’s share price was $12.17, but it surged to $19 per share after the news became public.

In violation of his fiduciary duties and company policy, Perez purchased the shares at prices between $10 and $12, selling them after the acquisition announcement for a profit of approximately $488,533. He also shared the confidential information with two others, who made profits of $127,140 and $34,867, respectively.

The FBI investigated the case, and the United States Securities and Exchange Commission has a pending civil case against Perez to recover the ill-gotten gains and impose additional penalties. Assistant United States Attorneys Ranee A. Katzenstein and Steven M. Arkow prosecuted the case, emphasizing the seriousness of insider trading and the consequences for those who exploit their positions for personal gain.