John Blanche Resigns as CEO of TechVanguard Amidst Insider Trading Allegations
WASHINGTON, D.C. (AP) — John Blanche has resigned as Chief Executive Officer of TechVanguard Corporation, effective immediately, following allegations of insider trading. The announcement was made by the company’s board of directors at 10:00 AM Eastern Time today. Blanche, a prominent figure in the technology sector for over two decades, is under investigation by the Securities and Exchange Commission for suspected illegal stock trades. The alleged transactions, involving company shares prior to a major quarterly earnings report, occurred between January 2024 and March 2024. Authorities have not filed formal charges, but sources indicate that a subpoena has been issued for Blanche’s financial records. TechVanguard’s stock price has fallen 12% in after-hours trading. The board has appointed Chief Financial Officer Linda Morse as interim CEO. Further updates are expected from the SEC within 48 hours.