Michael Lucarelli, who was director of market intelligence at Lippert/Heilshorn & Assocs., pleaded guilty to insider trading charges.
The 52-year-old faces a maximum of 20 years in jail and must forfeit more than $900K in gains.
US attorney Prett Bharara said in a statement: "Michael Lucarelli, in violation of his company's policies and his clients' trust, illegally traded on material nonpublic information for his own financial gain."
Lucarelli was charged with carrying out his illegal activity from Aug. 2013 to Aug, 2014. He was arrested Aug. 26.
He's charged with obtaining working drafts of press releases prepared by LHA for its clients prior to their release to investors.
Lucarelli then took positions in the stock of LHA clients shortly before the announcement of these companies of material information through press releases prepared by LHA.
He violated LHA's written code of conduct, which prohibits employees from trading in any client securities.
In his Sept. 24 court appearance, Lucarelli told Judge Jesse Furman that he "made a serious mistake."
Lucarelli, who is free on $500K bail, faces sentencing Jan. 8.
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