United States Attorney David Metcalf announced that Carlos Sacanell, 59, of Willow Grove, pleaded guilty on Wednesday to one count of securities fraud (insider trading) and one count of making a false statement to a federal agency.

Sacanell was charged by indictment in October 2024, Glenside Local previously reported

According to the U.S. Attorney’s report, Sacanell obtained nonpublic information from his domestic partner, who was an executive at Oak Street Health, about CVS Health Corporation’s acquisition of Oak Street Health in 2023.

Sacanell used the nonpublic information obtained from his domestic partner to trade stock and options in Oak Street Health before the transaction was publicly announced on February 8, 2023, resulting in his obtaining profits of approximately $617,000, officials said.

According to court filings, when the defendant was interviewed by the FBI in April 2024, he falsely told agents that he did not obtain from his domestic partner information regarding CVS’s planned acquisition of Oak Street Health before the acquisition was publicly announced on February 8, 2023.

This case was investigated by the FBI and is being prosecuted by Assistant United States Attorney Francis A. Weber. The Securities and Exchange Commission also charged Sacanell in a parallel matter, officials said.

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