The Securities and Exchange Commission filed a civil complaint in a federal court in New York charging Steven McClatchey and Gary Pusey (both from Long Island, NY) with engaging in an illegal insider trading scheme. According to the SEC, Mr. McClatchey provided nonpublic information learned from his employer about pending mergers and acquisitions to his plumber and close friend, Mr. Pusey. In return, Mr. Pusey allegedly remodeled a bathroom in Mr. McClatchey’s home for free, placed cash in Mr. McClatchey’s gym bag or handed McClatchey cash directly. All told, Mr. Pusey made US $76,000 trading on his illicitly obtained tips, said the SEC. The SEC seeks disgorgement of illicit trading profits and gains from Mr. McClatchey and Mr. Pusey and civil monetary penalties.