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.
