Ex-Xinhua Exec Nets Plea Deal In $50M Insider Trading Case

Law360, Los Angeles (February 15, 2013, 6:57 PM EST) -- A former Xinhua Finance Ltd. board member pled guilty Friday to one count of conspiracy to impede the Internal Revenue Service in exchange for being released from other charges in a suit over a $50 million insider trading scheme.

Xinhua compensation committee head Dennis L. Pelino's plea deal comes seven months after a Washington federal judge dismissed the bulk of the government's case against Pelino, another Xinhua board member and the company's ex-CEO, finding that the government failed to show that they made false statements regarding...
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