Former BankRI board member charged with releasing exclusive details

By Stephanie Vargas

news@abc6.com

A former Bancorp Rhode Island board member is being charged on Monday with having exclusive details and trading them. 

Anthony Andrade, of Rehoboth, MA was charged by the U.S. Securities and Exchange Commission with giving three people information about the future sale of Bancorp to Brookline Bancorp who used to be the parent company of Rhode Island Bank.

Andrade’s three associates Robert Kielbasa, of Portsmouth Fred Goldwyn, of Wilmington, Del and Kenneth Rampino, of Seekonk, MA are also being charged.

Kielbasa and Goldwyn settled the SEC charges and Kielbasa will pay $84,625 to the SEC, which includes profits and interest.

Goldwyn will pay $50,301 that includes profits and interest.

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