Consultant Karl Motey Pleads Guilty in Insider Case
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Karl Motey, an independent consultant in California, pleaded guilty and agreed to cooperate with federal prosecutors in a widening U.S. investigation of insider trading on Wall Street.
Motey pleaded guilty in federal court in Manhattan on Dec. 14 to conspiracy and securities fraud, according to court papers made public today. He got secret tips from multiple sources at Marvell Technology Group Ltd. and provided the information to hedge fund clients, according to the charging document.