Stephen George of Parkland Enters Guilty Plea In Federal Case.
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2025 MetroDesk Media, LLC) — The former vice president of Boca Raton’s Celsius beverage company is facing 20 years in federal prison after entering a guilty plea to insider trading that netted him more than $1.6M in profits. Stephen George of Parkland will be sentenced later this year. Celsius is not accused of wrongdoing. The United States Department of Justice provided this statement to BocaNewsNow.com:
>>>According to court documents, Stephen George, 54, of Parkland, was a member of the Finance Department at Company A from November 2017 until April 7, 2023, where he held roles including vice president and controller. Company A is a consumer-packaged goods company headquartered in Boca Raton, Florida, that is the maker of a fitness drink and whose securities are publicly traded on the NASDAQ Stock Market. In his role at Company A, George received material non-public information (MNPI) regarding Company A’s profit and revenue performance.
George’s last day of employment at Company A was April 7, 2023. On that day, George used a Company A computer to generate out of Company A’s enterprise resource planning system a consolidated income statement showing Company A’s financial performance for the first quarter of 2023, which George knew contained MNPI. The income statement showed that Company A’s first quarter of 2023 had greatly exceeded expectations. Shortly after generating the income statement, George emailed it to himself using two personal email accounts.
Beginning on April 10, 2023, the first trading day after his last day of employment with Company A, and continuing through May 8, 2023, George purchased Company A securities on the basis of MNPI — specifically, 20,000 shares of Company A common stock and 300 call option contracts. On May 9, 2023, after the market close, Company A publicly reported better-than-expected earnings and sales for the first quarter of 2023, including an all-time quarterly record in revenue. After the public announcement, Company A’s stock price increased significantly. During the next trading day, May 10, 2023, George sold all 20,000 shares of common stock and 300 call option contracts, resulting in over $1.6 million in personal profits.
George pleaded guilty to one count of securities fraud. He is scheduled to be sentenced on April 28 and faces a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division; and Acting Special Agent in Charge Justin E. Fleck of the FBI Miami Field Office made the announcement.
The FBI Miami Field Office investigated the case. The Justice Department appreciates the assistance of the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group.
Assistant U.S. Attorneys Eli S. Rubin and Elizabeth Young for the Southern District of Florida and Trial Attorneys Matthew F. Sullivan and Matt Kahn of the Criminal Division’s Fraud Section are prosecuting the case. Assistant U.S. Attorney Nicole Grosnoff for the Southern District of Florida is handling asset forfeiture.
George’s guilty plea comes on the heels of three guilty pleas entered in a separate insider trading prosecution in the Southern District of Florida: United States v. Federico Nannini, et al., 24-cr-20398-RAR. Based on court filings in that case, defendant Federico Nannini, through his work at a global consulting firm, learned that Mas Tec Inc. planned to acquire Infrastructure and Energy Alternative, Inc. Federico Nannini tipped his father, defendant Mauro Nannini, and childhood friend, defendant Alejandro Thermiotis, who each traded on the insider information. In total, they made over $1.1 million in illegal profits. Assistant United States Attorneys Alexandra D. Comoli, Eli S. Rubin, and Elizabeth Young are prosecuting that case, with AUSA Annika Miranda handling forfeiture.<<<
