DENVER (AP) — A Denver insurance executive has been indicted by a federal grand jury on five counts of insider trading.

Prosecutors said Friday that Michael Van Gilder traded based on inside information regarding a Denver oil and natural gas company called Delta Petroleum Corp.

Delta Petroleum was a Denver-based oil and gas exploration and development company that focused on the Gulf Coast and Rocky Mountains.

Prosecutors say Van Gilder provided insurance policies covering Delta’s business operations.

An attorney for Van Gilder could not be located for comment.

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