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Pa. Broker Pleads Guilty To Insider Trading

Law360 (February 10, 2011, 7:17 PM EST) -- The former chairman of Pennsylvania investment banking firm Keystone Equities Group has pled guilty to insider trading charges, admitting that he received tips from a former Ernst & Young LLP partner about impending corporate acquisitions.

According to court records, broker Richard A. Hansen pled guilty to securities fraud and conspiracy on Wednesday in the U.S. District Court for the Southern District of New York. Sentencing is scheduled for May 12.

According to a criminal information filed in September, Hansen conspired with Ernst & Young partner James...
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