Willow Grove Man Gets 2 Years In Prison, Fine For Insider Trading

WILLOW GROVE, PA — A 59-year-old man will spend two years in prison and a $5,000 fine after being sentenced Friday for an insider trading scheme, authorities said.

Carlos Sacanell, 59, of Willow Grove, was charged by indictment in October 2024. He pleaded guilty last September to one count of securities fraud (insider trading) and one count of making a false statement to a federal agency, U.S. Attorney David Metcalf said.

The scheme involved insider trading linked to CVS’s 2023 acquisition of Oak Street Health, authorities said.

According to court records, Sacanell obtained nonpublic information from his domestic partner, an executive at Oak Street Health, about CVS Health Corp.’s acquisition of Oak Street Health in 2023.

At all times relevant to this matter, both CVS and Oak Street Health were publicly traded companies on the New York Stock Exchange, with ticker symbols CVS and OSH, respectively.

Sacanell used the information to trade stock and options in Oak Street Health before the transaction was publicly announced on Feb. 8, 2023, resulting in him receiving about $617,000 in profits.

While being interviewed by the FBI in April 2024, authorities said he falsely told agents that he did not obtain from his domestic partner information about the acquisition.