Photo: CNBC screenshot
Outspoken former independent stock research analyst John Kinnucan told a Manhattan federal judge that he will plead guilty to two counts of securities fraud and one count of conspiracy, Bloomberg News reports. CNBC Tweeted that he faces up to 45 years in federal prison.
Kinnucan, 55, the founder of Oregon-based expert network Broadband Research, was indicted earlier this year on accusations of leaking inside information on tech companies to clients.
His indictment was part of a wide-sweeping insider trading probe of expert networks passing illicit information to hedge funds, according to CNBC.
Kinnucan is also known for his outspokenness.
He allegedly left taunting, expletive-filled voicemail messages for government officials.
He also gained prominence back in the fall of 2010 when he sent an email telling hedge fund clients that he refused to wear a wire requested by the FBI and later appeared on CNBC’s “Strategy Session” to talk about the probe.
We’ll have more in a moment.
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