Ex-Heartland Payment Systems CEO to pay $250K penalty to SEC

April 29, 2019 - 4:53 pm

NEWARK, N.J. (AP) — The former chief executive officer of one of the country's largest payment processing companies has settled insider trading allegations with the Securities and Exchange Commission.

A court filing shows that former Heartland Payment Systems CEO Robert O. Carr signed an order last week that requires him to pay a civil penalty of $250,000 to the SEC. As part of the agreement, he didn't admit or deny any of the allegations in the complaint.

Carr was accused of giving inside information to girlfriend Kathie Hanratty ahead of Heartland's acquisition by Global Payment Inc. Hanratty reached an agreement with the SEC last fall to pay back about $500,000.

Both also face a lawsuit filed by Heartland and could face federal charges. An attorney representing Carr didn't return a message seeking comment Monday.

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