Feds say N.H. man tipped off girlfriend about upcoming purchase of his company; she made $250,000 in stocks

Monitor staff
Published: 7/10/2018 5:43:26 PM

A 73-year-old New London man allegedly gave his 65-year-old girlfriend inside information of the company he founded has been charged with securities fraud.

The Securities and Exchange Commission on Tuesday charged Robert Carr of New London, CEO and founder of Heartland Payment Systems, and Katherine Hanratty of Connecticut with insider trading.

Carr founded Heartland in 1996 in Princeton, N.J., to offer credit-card and debit-card processing services to smaller businesses and built it into one of the country’s largest payment processing firms. Global Payment Inc. bought the firm for $4.3 billion on Dec. 15, 2016.

The SEC alleges that Carr “tipped Hanratty, his romantic partner, to material, nonpublic information that was expected to – and did – dramatically increase the value of Heartland’s stock” and that she bought 11,393 shares of Heartland stock for $899,852 for an average cost of $78.98 per share. In April 2017, long after the Global purchase was announced, she sold them for $101.066 per share, for a profit of $250,628.

In a lawsuit filed in U.S. District Court in Connecticut, the SEC is asking that the profit be paid back with an unspecific financial penalty and Carr be banned from being an officer in any public company.


Support Local Journalism

Subscribe to the Concord Monitor, recently named the best paper of its size in New England.

Concord Monitor Office

1 Monitor Drive
Concord,NH 03301


© 2019 Concord Monitor
Terms & Conditions - Privacy Policy