Ex-J.P. Morgan analyst pleads not guilty to insider trading

Staff Writer
Columbus CEO

LOS ANGELES (AP) — A former J.P. Morgan Securities analyst in California has pleaded not guilty to taking part in insider trading that netted more than $600,000.

Ashish Aggarwal, of San Francisco, and two Los Angeles friends are each charged with 30 counts of conspiracy and fraud. They entered pleas Tuesday in Los Angeles federal court.

Each fraud count carries a possible 20-year prison term.

The three men surrendered to FBI agents earlier in the day and were expected to be released on bond.

Prosecutors say Aggarwal was working for J.P. Morgan in San Francisco when he passed on nonpublic information about mergers and acquisition to his buddies, who used it to make advance trades.