Postal Worker Pleads Guilty To Insider-Trading Scheme

Law360, New York (August 11, 2006, 12:00 AM EDT) -- A New Jersey mail carrier admitted on Friday that after learning of improper accounting at Bristol-Myers Squibb Co. while serving on a grand jury investigation last year, he spilled the beans to two former Goldman Sachs Group Inc. employees.

Jason Smith, of Jersey City, N.J., pled guilty to conspiracy to commit insider-trading, securities fraud and federal criminal contempt as part of the grand jury leak during a Friday hearing in the U.S. District Court for the Southern District Of New York.

“Jason is very happy to...
To view the full article, register now.