NEW YORK, July 24 (Reuters) - An outspoken research analyst
charged with supplying hedge funds with illegal tips is expected
to plead guilty in U.S. District Court in Manhattan on
Wednesday, a person familiar with the matter said.
John Kinnucan, 55, of Portland, Oregon, paid insiders with
cash, trips and other benefits to get secret information between
2008 and 2010, including sales trends for Apple Inc's iPhone,
authorities said after his arrest in February.
Kinnucan, who headed Broadband Research LLC, funneled the
information to hedge fund traders in California and New York in
exchange for hundreds of thousands of dollars, the authorities
Kinnucan is expected to plead guilty to securities fraud,
the person familiar with the matter said. The person did not
want to be identified because the plea had not yet taken place.
An attorney for Kinnucan could not be reached for comment. A
spokeswoman for federal prosecutors in Manhattan did not
immediately return a call for comment.
Kinnucan became something of a celebrity in the financial
world in 2010 by publicly refusing to cooperate with the U.S.
government's broad insider trading investigation. He wouldn't
wear a wire and sent a widely circulated email to current and
former clients of his firm to alert them to the probe.
The case is USA v Kinnucan, case No. 12-00163, U.S. District
Court for the Southern District of New York.
For the USA: Avi Weitzman and Katherine Goldstein of the
U.S. Attorney's Office
For Kinnucan: Thomas J. Hester of the Office of the Federal
(Reporting by Basil Katz; additional reporting by Karen
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