Man Pleads Guilty In $11M NC Insider Trading Case

Law360, Wilmington (January 16, 2013, 8:17 PM EST) -- A South Carolina man pled guilty Tuesday in North Carolina federal court for his part in an $11 million insider trading scheme allegedly run by former Wells Fargo Securities LLC investment banker John Femenia.

Kenneth M. Raby, 50, pled guilty to one count of conspiracy to commit insider trading before a North Carolina federal magistrate judge, according to court documents. The charge carries a maximum penalty of five years in prison and a $250,000 fine.

Last month, Raby was indicted along with eight others for allegedly...
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