Ex-Nvidia analyst admits insider trading charge [View All]

Source: Reuters.com

Sonny Nguyen, 39, told U.S. District Judge Jed Rakoff in New York at the plea proceeding that in 2007 and 2008 he tipped former Primary Global Research consultant Winifred Jiau about chipmaker Nvidia's quarterly financial results before they were announced to the public.

Jiau, a former technology consultant with Primary Global in California, is scheduled to go on trial before the same judge on June 1. Nguyen, who was released on $100,000 bond, is expected to testify at the trial, the court heard.

Nguyen is among at least 14 people who have been charged in the investigation of expert networking firms that match investment managers with public companies.

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Santa Clara, California-based Nvidia said in a statement that it put Nguyen on administrative leave after the company was told he intended to admit to involvement in the case.

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Read more: http://www.reuters.com/article/2011/05/27/us-insidertrading-nguyen-plea-idUSTRE74Q5JK20110527

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That last part really has to be the kicker. He wasn't suspended because he was involved in illegal activity, but because he "intended to admit" it.