Former Analyst Cops To Insider Trading In IBM Case

Law360, New York (September 12, 2013, 8:47 PM EDT) -- A former Australian analyst pled guilty Thursday to his involvement in a scheme to trade ahead of a 2009 IBM Corp. acquisition using insider knowledge, admitting he received tips from an attorney friend.

Trent Martin, 34, admitted that he made about $7,600 trading ahead of IBM’s $1.2 billion purchase of software company SPSS Inc. after receiving tips from his friend, an unnamed attorney.

He entered a plea to a single count of securities fraud at a hearing before U.S. District Judge Andrew Carter Jr.

“In late...
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