Ex-IBM Exec Pleads Guilty in Inside Trading Case

Another day, another exec pleads guilty in the Galleon insider trading case. Takes some pretty big balls to plead guilty when the charges against you carry a maximum penalty of 25 years in prison.

Moffat, once considered a candidate for chief executive officer at IBM, was considered the highest level executive arrested in a case that resulted in 21 arrests. He is the 11th person to plead guilty. He remained free on $2 million bail. Sentencing was set for July 26. His lawyers said he was not cooperating with the government's probe.

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