A Massachusetts police chief charged with insider trading that allegedly netted a group of men more than $2.2 million in illegal profits will resign.
Dighton Police Chief Shawn Cronin is among five men charged in the insider trading scheme. Dighton Board of Selectmen Chairman Peter D. Caron said in a statement Tuesday that Cronin will resign Saturday.
“On behalf of the community, the Board would like to thank Chief Cronin for his dedicated service to the Police Department, the Town, and its residents,” Caron said.
According to federal investigators, Dighton reserve officer Joseph Dupont, a friend of Cronin, was vice president of Boston-based Alexion Pharmaceuticals, Inc. when he learned that the firm was going to purchase another company, Portola Pharmace….