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Former Pinnacle Director Pleads Guilty

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Posted at 8:10 PM, Oct 21, 2016
and last updated 2016-10-21 21:10:50-04

A former bank board member has been set to spend nearly a year on house arrest for insider trading.

Friday, former director of Nashville-based Pinnacle Financial Partners, James Cope, pled guilty to insider trading in connection to the bank's merger with Avenue Financial Holdings.

Investigators said Cope, who’s also a Rutherford County Attorney, illegally bought Avenue stock before the merger was announced.

As part of the plea deal, Cope will be on home confinement for nine months and must pay a $55,000 fine.