New York Times – A technology research analyst who gained notoriety for taunting the federal government over its pursuit of insider trading is expected to plead guilty in United States District Court in Manhattan on Wednesday, according to people briefed on the matter.
John Kinnucan, founder of Broadband Research, based in Portland, Ore., is expected to plead guilty to sharing secret information about technology companies with money managers in exchange for cash.
People briefed on the matter spoke on the condition of anonymity ahead of the formal entering of the plea.
The government’s case against Mr. Kinnucan included wiretaps, phone records, instant messages and cooperating witnesses.
Mr. Kinnucan relied on a wide web of sources, including senior employees at SanDisk and Flextronics as well as insiders at the technology firm F5 Networks, who freely shared insider information with him in exchange for cash and gifts, according to prosecutors. Those gifts included investments in start-ups, sharing a beach house and lavish meals, prosecutors said.