Crackdown on research firms continues with NY plea

January 11, 2011 at 1:39p.m.

NEW YORK (AP) — A former employee of an “expert networking” firm has pleaded guilty to insider trading charges, admitting that the company tried to recruit employees of public companies to give up secrets.

Bob Nguyen entered the plea Tuesday in federal court in Manhattan. The 32-year-old Stockton, Calif., resident faces up to 25 years in prison when he is sentenced.

Prosecutors said Nguyen worked at the firm between January 2008 and February 2010.