Saturday, December 8, 2007

Ex-plant worker pleads guilty in trading case

A former worker at a plant in Wisconsin that printed BusinessWeek magazines pleaded guilty on Friday for his role in a far-flung insider trading scheme that netted more than $6.7 million.

Juan Renteria, 22, who worked at a Wisconsin printing plant, pleaded guilty to conspiracy and insider trading charges during a hearing before Magistrate Judge Frank Maas in U.S. District Court in Manhattan.

Renteria, along with another printing plant worker, Nickolaus Shuster, was accused of stealing advance copies of the magazine and passing on names of stocks mentioned in its ”Inside Wall Street” column to two former Goldman Sachs Group Inc employees, Eugene Plotkin and David Pajcin.

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