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N.J. Traders Plead Guilty to Health-Care Insider TradING

Two New Jersey men pleaded guilty to their role in an insider-trading ring that prosecutors said generated $1.48 million in illicit profit using information from employees at pharmaceutical and medical-technology firms.

Lawrence Grum and Michael Castelli, both 49, admitted to fraud and conspiracy today in federal court in Newark, New Jersey, U.S. Attorney Paul Fishman said in a statement. Four other men pleaded guilty earlier to participating in the ring. It profited from tips passed by executives at Celgene Corp., Sanofi and Stryker Corp.