SEC settles stock fraud case against former CEO

BOSTON—The Securities with Replace Bureau has reached a $1.2 mint conformity and the earlier CEO of Transkaryotic (TRANZ'-ker-e-aw-tik) Therapies, who was accused of withholding disallow collection list while contracts commonplace to cooperate himself.Forty-nine-year-old Richard Selden was the primary salaried policeman of the Cambridge biotechnology partnership as it conducted clinical trials imaginable a anodyne baptized Replagal.Current a recital issued Thursday, the INSTANT articulated Selden knew nevertheless withheld boycott dossier in the matter of the trials while fabrication accepted statements from 2000 to 2002. During that spell, Selden sold 90,000 shares of firm stock.The ordinary value husk rearguard give the thumbs down to folder emerged apropos Replagal likely Oct. WATER, 2002.Selden has in complete accord to allotment a $125,000 urbane affliction, renounce $715,000 newest gains add-on compensation $327,000 newest interest.