Weston Man Sentenced To Prison For Insider Trading

WESTON, CT — A Weston man has been sentenced to two months in federal prison for insider trading that earned him more than $220,000 in illegal profits, federal prosecutors said.

U.S. Attorney David X. Sullivan announced Thursday that Ryan Squillante, 40, was sentenced by U.S. District Judge Vernon D. Oliver in Hartford to prison, 18 months of supervised release, and a $331,368 fine. He must report to prison on Jan. 7.

According to prosecutors, Squillante worked from his home as head of equity trading at a Denver-based investment firm. In that role, he received material non-public information about several publicly traded companies. Between August 2022 and May 2023, he used that information on 15 occasions to execute trades, making a total profit of $220,912.

One example cited in court involved Praxis Precision Medicines, Inc., a biopharmaceutical company listed on the NASDAQ. In February 2023, Squillante shorted more than 38,000 Praxis shares at about $3.04 each. After the company released disappointing drug trial results in early March, its share price dropped sharply. Squillante then bought back the shares at an average of $1.82, netting more than $46,000 in profit, according to prosecutors.

Squillante pleaded guilty to securities fraud on June 6, 2025.