Business

NY guilty plea scheduled for head of Oregon firm

Posted July 25, 2012 6:49 am

Associated Press

NEW YORK — A person familiar with a criminal securities fraud case against the head of an Oregon investment research firm says he’s expected to plead guilty on Wednesday in New York.

The person requested anonymity because he’s not authorized to speak publicly about the plea. He told The Associated Press on Tuesday that John Kinnucan would enter the plea.

Authorities say Kinnucan used inducements as the president of Broadband Research LLC to pump information out of public company insiders.

Kinnucan is accused of obtaining inside information about earnings reports from technology companies between 2008 and 2010 and relaying the numbers to his clients.

He has remained incarcerated since he was accused of making obscenity-laced phone calls to prosecutors and FBI agents. His lawyer hasn’t returned a message seeking comment. A spokeswoman for prosecutors has declined to comment.

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