A former hedge-fund manager who ordered a co-worker to shred documents and an ex-analyst at a technology firm have become the latest to plead guilty to criminal charges related to an alleged insider-trading scheme involving "expert network" firms.
The guilty pleas by Samir Barai, the founder of Barai Capital Management, and Sonny Nguyen, a former senior financial analyst at Nvidia Corp., entered in two separate hearings on Friday, come amid a wide-ranging crackdown on alleged insider trading by federal prosecutors.
Mr. Barai and Mr. Nguyen are the seventh and eighth persons to plead guilty in the investigation involving expert-network firms that link investors with industry experts for a fee. A total of 13 people have been charged.
Mr. Barai pleaded guilty to several criminal charges, including securities fraud and obstruction of a grand jury investigation. He faces up to 20 years in prison on each fraud and obstruction charge.
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