A Duluth man recently pleaded guilty to conspiracy to commit securities fraud in connection with a multi-million dollar scheme involving Carter’s stock.
Richard T. Posey, of Duluth, was employed as a vice president for various brands and divisions of Carter's, when federal officials said he engaged in insider trading.
He is the second Carter's executive to plead guilty to charges related to conspiracy within the company, according to the U.S. Attorney's Office. Eric M. Martin, the company's former head of investor relations, pleaded guilty in November.
Sentencing for Posey nor Martin has been determined, officials said.
Carter's, a baby clothing company, is headquartered in Atlanta, Ga.
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