(Updates with count in second paragraph.)
Dec. 7 (Bloomberg) -- Stanley Ng, a former Marvell Technology Group Ltd. accountant, pleaded guilty to participating in an insider-trading scheme involving so-called expert networking firms.
Ng, who was charged in a nationwide crackdown on insider trading, pleaded guilty today to a single count of conspiracy to commit securities fraud and wire fraud before U.S. District Judge Jed Rakoff in Manhattan.
Prosecutors claimed Ng provided material nonpublic information to Winifred Jiau, a former consultant with expert- networking firm Primary Global Research LLC, according to a criminal complaint filed in August.
Jiau was convicted in June of one count each of conspiracy and securities fraud for passing earnings and other information about chipmakers Nvidia Corp. and Marvell to hedge fund managers. Rakoff sentenced her to four years in prison in September.
Rakoff said the maximum penalty for Ng’s crime is five years in prison. Prosecutors and Ng said the sentencing range under nonbinding federal guidelines is six to 12 months, according to their plea agreement.
The case is U.S. v. Ng, 11-02096, U.S. District Court, Southern District of New York (Manhattan).
--Editors: Andrew Dunn, Charles Carter
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