Russian Igor Poteroba, a former executive director at an American subsidiary of Switzerland-headquartered global financial services firm UBS, has admitted passing insider information, according to court records.
Poteroba, 37, was charged in Manhattan federal court in March and pleaded guilty on Tuesday to one count of conspiracy and three counts of securities fraud, admitting that he had tipped friends to potential mergers.
Poteroba, of Darien, Connecticut, worked in UBS Securities LLC's Global Healthcare Group. He in particular leaked information about six companies to Alexei Koval, who traded on it. Koval has been charged separately.
Under an agreement with U.S. prosecutors, Poteroba pledged to forfeit $465,000 in proceeds from his illegal activity.
MOSCOW, December 23 (RIA Novosti)
