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The SEC charged two men with insider trading.

May 22, 1987

Russell G. Van Moppes, a broker for Piper, Jaffray & Hopwood in Bellevue, Wash., and John Naylor Clark III, president of Smith and Nephew Roylan of Cedarburg, Wis., were accused by the Securities and Exchange Commission of illegal insider trading and ordered to pay penalties and surrender illegal profits. The two, Clark's wife and an unidentified customer of Van Moppes were accused of buying shares of Affiliated Hospital Products, of St. Louis, after getting non-public information that a London-based firm was negotiating to buy a controlling interest in the company. The SEC said the four made profits totaling $90,000 from the purchases.

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