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Tipster Pleads Guilty To Life Time Fitness Insider Trading

Law360 (February 25, 2019, 6:13 PM EST) -- The lead tipster in an insider trading scheme led by a former Life Time Fitness Inc. executive before the gym chain went private changed his not guilty plea in Illinois federal court on Friday to a voluntary plea of guilty of conspiracy to commit securities fraud.

U.S. District Judge Matthew F. Kennelly, who vacated an April 9 jury trial for tipster Bret Beshey, said the charge carries statutory penalties of a maximum five-year prison term and a maximum fine of $250,000, along with supervised release of up to three years.

The government claims that former Life Time Vice President Shane Fleming...

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Illinois Northern

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September 28, 2017

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