Carlos Sacanell, a 58-year-old resident of Willow Grove and a senior scientist for a manufacturer of health-care products, has been charged with insider trading after making $617,000 in illegal profits off of a CVS Health deal, the Philadelphia Inquirer reported today.

According to the story, Sacanell, who previously lived with a chief executive of Oak Street Health Inc., used confidential information shared with him by his longtime domestic partner in January 2023 to make a series of trades to buy $500,000 in securities.

The insider information involved the acquisition of Oak Street by CVS Health Corp. When Oak Street’s stock took off, he illegally sold his option contracts, the Inquirer said.

Federal prosecutors subsequently accused Sacanell of abusing his partner’s trust and using material nonpublic information to illegally profit. When FBI agents confronted him about his trades, he lied about the way in which he learned of the confidential information and was also charged with making a false statement to a federal agency.

If convicted, Sacanell faces a maximum sentence of 25 years in prison.

At the time of his trades, he owned more Oak Street call options than any other retail investor, authorities said.

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