Terren Peizer
Terren Scott Peizer | |
|---|---|
| Born | July 31, 1959 Beachwood, Ohio, U.S. |
| Alma mater | Wharton School of the University of Pennsylvania (B.S., Economics) |
| Occupation | Businessperson |
| Years active | 1983–present |
| Known for |
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| Criminal charges | convicted of insider trading (two counts) and securities fraud (2024) |
| Criminal penalty | facing a maximum penalty of 65 years in prison |
| Criminal status | set to be sentenced on February 24, 2025. |
Terren Scott Peizer (born July 31, 1959) is an American businessperson who was convicted of insider trading and securities fraud. He worked as a junk bond salesman at Drexel Burnham Lambert. He testified against his former boss Mike Milken in 1990 in Milken's securities fraud prosecution in exchange for immunity from both criminal prosecution and SEC sanctions. In the decades that followed, Peizer was an investor, manager, and owner of a series of small-cap companies in various industries, several of which lost money, lost stock value, or went bankrupt during or shortly after his involvement.
Peizer was founder, CEO, and chairman of Ontrak Inc., a publicly traded healthcare company, from which he resigned in March 2023 after U.S. authorities charged him with insider trading and securities fraud. At the conclusion of a nine-day trial in June 2024, a California federal jury found him guilty of three counts of insider trading and securities fraud. Peizer could face a maximum penalty of 65 years in prison.