Guilty Plea in Insider Trading Case: Karl Motey

Karl Motey, cooperating witness (CW-2), pleaded guilty for insider trading in exchange for leniency. Motey delivered secret tips about  Group (MRVL) to several hedge funds between 2007 and 2009. Walter Shimoon, Manosha Karunatilaka, Mark Longoria, and James Fleishman were arrested last week in the insider trading investigation involving expert networks and their hedge fund clients.

Karl Motey, like Daniel DeVore, is cooperating with prosecutors and hoping for a lighter sentence.