Ex-Day Trader Cops To Lehman Insider Trades

Law360, New York (May 5, 2009, 12:00 AM EDT) -- A former day trader who prosecutors allege raked in more than $1.5 million by trading on inside information he received from a former Lehman Brothers Holdings Inc. broker about merger and acquisition deals entered a guilty plea in a Manhattan court on Tuesday.

Jamil Bouchareb pled guilty to one count of conspiracy to commit insider trading and one count of insider trading before Magistrate Judge Debra Freeman in the U.S. District Court for the Southern District of New York.

Bouchareb faces a maximum sentence of 25...
To view the full article, register now.