A day after stepping down for “personal reasons” as CEO of Denver-based Van Gilder Insurance Corp. (VGIC), Michael Van Gilder was indicted on 5 counts of insider trading, according to U.S. Attorney John Walsh and the FBI.

An indictment was filed on Oct. 24. in the U.S. District Court for the District of Colorado. Concurrently, the U.S. Securities and Exchange Commission filed a complaint charging Van Gilder with civil insider trading violations, conducted a parallel civil probe and substantially contributed to the criminal investigation of the case.

Van Gilder, 45, allegedly traded based on inside information in 2007 and 2008 regarding Delta Petroleum Corp., based at the time in Denver.

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