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Former Miami Beach Day Trader Pleads Guilty in Manhattan Federal Court to Insider Trading Charges

Preet Bharara, the United States Attorney for the Southern District of New York, announced that Daniel A. Corbin, a day trader from Miami Beach, Florida, pled guilty today to conspiracy and securities fraud charges arising from a scheme in which he obtained and traded on material, non-public information. CORBIN pled guilty before U.S. Magistrate Judge HENRY B. PITMAN. Manhattan U.S. Attorney Preet Bharara said: “Daniel Corbin thought he had a golden source for inside tips and traded on the information he received with impunity. He played a high risk and high stakes game, and it caught up with him in the end.” According to the information, a superseding indictment, previously filed complaints, and statements made during today’s guilty plea proceeding: From February 2005 through September 2008, CORBIN obtained material, non-public information (“Inside Information”) from JAMIL BOUCHAREB. BOUCHAREB obtained the Inside Information about several mergers and acquisitions of public compa...