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May 31 (Reuters) - U.S. prosecutors on Wednesday unveiled criminal insider trading charges against a San Francisco-area man they said conducted illegal trades in Ross Stores Inc in a scheme that generated more than $8.2 million profit from 2009 to 2012.
Saleem Khan, 53, of Dublin, California, traded in Ross based on tips about the discount clothing retailer's performance from a co-conspirator, according to Acting U.S. Attorney Brian Stretch in the Northern District of California.
The defendant last July reached a $15.8 million settlement of related civil insider trading charges by the U.S. Securities and Exchange Commission, without admitting wrongdoing, court papers show.
Five months earlier, Khan was released from prison, where he had been sentenced to serve a 1-3/4-year term after admitting to bank fraud in connection with a home equity line of credit.
The latest indictment charges Khan with seven counts of securities fraud and one count of conspiracy.
Khan was released on $300,000 bond at a hearing before a federal magistrate judge in Oakland, California, Stretch said.
"These are old allegations that Mr. Khan previously settled with the SEC, and he has already been indicted and imprisoned out of the same investigation," Khan's lawyer Chris Cannon said in a phone interview. "I don't see any purpose in indicting him again."
Court papers detailing the charges were not immediately available. (Reporting by Jonathan Stempel in New York; Editing by Andrew Hay)