Ex-S&P Analyst Pleads Guilty to Charges

[Judi Lynn]

Ex-S&P Analyst Pleads Guilty to Charges
06.10.2005, 02:26 PM

A former Standard & Poor's credit analyst pleaded guilty Friday to insider trading charges over a scheme that prosecutors say netted him, his brother and a family friend more than $1 million.
(snip)

Marano, along with his brother, William Marano, and family friend Carl Loizzi, has been charged by the U.S. government with conspiracy and securities fraud.

After his plea on Friday, Rick Marano, of Westfield, N.J., was released on bail he posted last year when he initially pleaded not guilty to charges. Ellis said Marano will be sentenced by another judge later this year.

He faces a maximum of five years in prison on the first count to which he pleaded guilty, conspiracy to commit securities fraud, and a potential fine of $250,000. On the second count, fraud in connection with the purchase and sale of securities, he faces a maximum of 10 years in prison and a potential fine of $1 million.
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http://www.forbes.com/home/feeds/ap/2005/06/10/ap2087798.html

[JNelson6563]

1. Thsi sort of thing is so common these days

it doesn't even draw stares anymore. Oy!

Julie