Bloomberg – John Kinnucan, the Broadband Research LLC founder who earlier refused to cooperate in an FBI probe of insider trading, admitted passing illegal tips on companies to hedge-fund clients and obstructing justice.
Kinnucan, 55, who was indicted in February, pleaded guilty yesterday in Manhattan federal court to one count of conspiracy and two counts of securities fraud. He told U.S. District Judge Deborah Batts that he both obtained and gave tips to clients of his expert-networking firm, including two in New York.
