Wednesday, July 25, 2012

Plea Ends Bizarre Chapter in Insider Trading Crackdown




According to the WSJ report John Kinnucan's 21-month brawl with the U.S. government began with a late-night email from his Portland, Ore., couch and ended with a guilty plea in a New York federal court.  The 55-year-old research consultant admitted Wednesday that he committed securities fraud by illegally passing on confidential information about technology firms to hedge funds and other clients.

His plea caps a remarkable episode in the government's recent insider-trading crackdown. Mr. Kinnucan repeatedly taunted U.S. officials amid the probe—despite pleas by his wife for him to tone down his comments….


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