Former Analyst Pleads Guilty in IBM Deal Insider-Trading Scheme
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A former securities analyst extradited to the U.S. from Hong Kong in March pleaded guilty to his role in an insider trading scheme involving International Business Machines Corp.’s $1.2 billion acquisition of SPSS Inc.
Trent Martin, 34, an Australian citizen, entered his plea to a single count of conspiracy in a hearing yesterday before U.S. District Judge Andrew L. Carter Jr. in Manhattan. Martin told Carter that he made about $7,600 from trading on the tip, which he received from an unidentified attorney working on the deal.