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	<title>Observer &#187; Bharara Announces Insider Trading Plea on Heels of Guilty Verdict in Gupta (UPDATE)</title>
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		<title>Observer &#187; Bharara Announces Insider Trading Plea on Heels of Guilty Verdict in Gupta (UPDATE)</title>
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		<title>Bharara Announces Insider Trading Plea on Heels of Guilty Verdict in Gupta (UPDATE)</title>

		<comments>http://observer.com/2012/06/bharara-announces-insider-trading-plea-on-heels-of-guilty-verdict-in-gupta/#comments</comments>
		<pubDate>Mon, 18 Jun 2012 17:09:59 -0400</pubDate>
					<link>http://observer.com/2012/06/bharara-announces-insider-trading-plea-on-heels-of-guilty-verdict-in-gupta/</link>
			<dc:creator>Patrick Clark</dc:creator>
				
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		<description><![CDATA[<p><div id="attachment_246803" class="wp-caption alignleft" style="width: 138px"><a href="http://observer.com/2012/06/bharara-announces-insider-trading-plea-on-heels-of-guilty-verdict-in-gupta/bharara-preet-headshot/" rel="attachment wp-att-247097"><img class=" wp-image-247097" title="Bharara, Preet Headshot" src="http://nyoobserver.files.wordpress.com/2012/06/bharara-preet-headshot.jpg?w=214" alt="" width="128" height="180" /></a><p class="wp-caption-text">Bharara.</p></div></p>
<p>A former marketing executive at AT&amp;T pled guilty to insider trading charges after providing sales data for the Apple iPhone and RIM's Blackberry to a so-called expert network, said U.S. Attorney Preet Bharara in a statement.</p>
<p>Alnoor Ebrahim, 57, of Alpharetta, Georgia, pled guilty to one count of conspiracy to commit securities fraud and wire fraud. According to a press release, Mr. Ebrahim was paid more than $180,000 between 2008 and 2010 for providing nonpublic information on handset sales to investors. The charge carries a maximum sentence of five years.</p>
<p>The guilty plea comes after Mr. Bharara's office obtained a guilty verdict in the insider trading trial of Rajat Gupta, the former McKinsey &amp; Co. chief executive charged with passing corporate secrets to now-imprisoned hedge fund manager Raj Rajaratnam.</p>
<p>Mr. Ebrahim's guilty plea marks the government's 63rd insider trading conviction since October 2009.</p>
<p><strong>Updated to correct the number of insider trading convictions obtained by the government in recent years.</strong></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_246803" class="wp-caption alignleft" style="width: 138px"><a href="http://observer.com/2012/06/bharara-announces-insider-trading-plea-on-heels-of-guilty-verdict-in-gupta/bharara-preet-headshot/" rel="attachment wp-att-247097"><img class=" wp-image-247097" title="Bharara, Preet Headshot" src="http://nyoobserver.files.wordpress.com/2012/06/bharara-preet-headshot.jpg?w=214" alt="" width="128" height="180" /></a><p class="wp-caption-text">Bharara.</p></div></p>
<p>A former marketing executive at AT&amp;T pled guilty to insider trading charges after providing sales data for the Apple iPhone and RIM's Blackberry to a so-called expert network, said U.S. Attorney Preet Bharara in a statement.</p>
<p>Alnoor Ebrahim, 57, of Alpharetta, Georgia, pled guilty to one count of conspiracy to commit securities fraud and wire fraud. According to a press release, Mr. Ebrahim was paid more than $180,000 between 2008 and 2010 for providing nonpublic information on handset sales to investors. The charge carries a maximum sentence of five years.</p>
<p>The guilty plea comes after Mr. Bharara's office obtained a guilty verdict in the insider trading trial of Rajat Gupta, the former McKinsey &amp; Co. chief executive charged with passing corporate secrets to now-imprisoned hedge fund manager Raj Rajaratnam.</p>
<p>Mr. Ebrahim's guilty plea marks the government's 63rd insider trading conviction since October 2009.</p>
<p><strong>Updated to correct the number of insider trading convictions obtained by the government in recent years.</strong></p>
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