Insider trading suspect bolts - barefoot - from cameras

Lucarelli Runs From Cameras

Michael Lucarelli, accused of insider trading, bolted when he spotted cameras outside the federal courthouse in Manhattan.

That's one way to leave court.

A New York City investor relations executive accused of insider trading took off running when he spotted a CNBC camera and two still photographers outside federal court in Manhattan on Tuesday. Wearing a sleeveless shirt, 51-year-old Michael Lucarelli fled eastward on Worth Street upon seeing the cameras-continuing to run even after his sandals slipped off.

Lucarelli, a former director of market intelligence at Lippert/Heilshorn & Associates, was arrested early Tuesday at his New York City apartment, an FBI spokesman told Reuters. Lucarelli was indicted on 13 charges on securities fraud accusing him of raking in $538,000 in illegal profits.

Read More NY financier charged with insider trading

Lucarelli was released on $500,000 bail. Prosecutors accused him of opening several brokerage accounts without disclosing his job at Lippert/Heilshorn. Because of his job, Lucarelli allegedly had access to corporate financial announcements before they were released to the public.

Defense attorney Oscar Michelen declined to talk about the case in detail until he discussed it further with Lucarelli, according to Reuters.

-By CNBC's Jeff Morganteen. CNBC producer Cara Caruso and Reuters contributed to this report.

Bank Workers CharityBank Workers Charity - Supporting bank workers

Register for Financial Markets News Alerts