SEC Says 5 Used Inside Information

DALLAS (CN) – Inside traders made $792,000 on illegal trades of Aviall securities, using inside information from two Aviall employees that the aircrafts parts and services company was about to be purchased by Boeing, the SEC claims in Federal Court.     The SEC claims Aviall employees Brian Patrick Carr and Robert Wayne Tedder got the inside information, and that Tedder tipped his father, Joseph Wayne Tedder, and a business associated, Philip Brian Gunn. Gunn then tipped his brother, Gregory Carl Gunn, a registered representative, the SEC says.      All told, the defendants made $792,412 from the illegal, inside trades, the complaint states.