Former CEO of Ontrak, a health-tech company

Terren Peizer

a.k.a. “The Insider”

He was convicted of insider trading: he sold stock ahead of bad news at his own company. He got 42 months and a $5.25 million fine. He was pardoned in January 2026.

Rap sheet

Convicted of: Securities fraud; insider trading (two counts) [1]
Court: Central District of California [1]
Sentenced: June 23, 2025: 42 months; $5,250,000 fine. He was also ordered to forfeit about $12.7 million. [1][3]
Granted: Full and unconditional pardon, January 16, 2026 [2]

The receipt

PARDONMAXXING TERREN PEIZER - - - - - - - - - - - - - - - - - - -

Wiped off the books

Prison [1] 42 months

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Gold is money that was reportedly spent near the President’s orbit. Red is what the grant wiped away. We list what was reported and when. We don’t claim one caused the other. How we count.

Timeline

June 23, 2025 The law Sentenced to 42 months. [1]
January 16, 2026 The pardon Pardoned seven months later. [2]

Detective’s notes

Commentary

He knew something the market didn’t and sold. Now he knows something the rest of us don’t: who to call.

Sources

Clemency grants by President Donald J. Trump, 2025–present (archived Sept. 20, 2026) U.S. Department of Justice, Office of the Pardon Attorney, via the Internet Archive
Signed clemency warrant: Terren Peizer U.S. Department of Justice, Office of the Pardon Attorney · January 16, 2026
Terren Peizer Wikipedia