Former Goldman Sachs Group Inc. bond analyst Eugene Plotkin pleaded guilty to helping lead an insider trading scheme.
Mr. Plotkin, a former associate in Goldman Sachs' fixed-income research division, entered a guilty plea today to conspiracy and eight counts of insider trading at a hearing before U.S. Magistrate Judge Debra Freeman in New York, according to published reports.
Prosecutors alleged that Mr. Plotkin and David Pajcin, a former analyst in Goldman Sachs' fixed-income division, masterminded a series of insider-trading schemes that prosecutors said generated more than $6.7 million in illegal proceeds.
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Mr. Plotkin faces up to 20 years in prison on each insider-trading charge.
Mr. Pajcin, who is cooperating with the government, is facing criminal charges in the matter. Three others have pleaded guilty to criminal charges in the case.
In July, Former Merrill Lynch & Co. analyst Stanislav Shpigelman pleaded guilty to insider trading today, admitting to his role in the scheme (InvestmentNews, July 14).
