* Pleads guilty to trading ahead of IBM deal
* Faces up to 45 years in prison
By Bernard Vaughan
NEW YORK, April 3 Former broker Thomas Conradt
pleaded guilty Wednesday to insider trading charges related to
trades he made ahead of a $1.2 billion acquisition by
International Business Machines Corp in 2009.
In court on Wednesday, Condradt, 35, said he used tips from
a roommate to trade on shares of Chicago-based software company
SPSS before IBM agreed to buy it on July 28, 2009, for $1.2
billion. He also passed those tips along to several colleagues
at the Manhattan office of Euro Pacific Capital Inc, the
brokerage he was working at.
Conradt pleaded guilty to one count of conspiracy to commit
securities fraud and two counts of securities fraud. He faces up
to 45 years in prison, U.S. District Judge Andrew Carter said at
the hearing. Carter set Oct. 3 as a tentative date for his
"I am deeply apologetic ... for my actions," Conradt said,
reading from a written statement. "I can assure the court that I
will never put myself in this position again."
Catherine Redlich, Conradt's lawyer, declined to comment
after the hearing.
David Weishaus, a co-defendant in the case, was also in
court on Wednesday. Judge Carter adjourned his hearing until
June 5 so that he and his lawyer could review evidence.
Weishaus was also employed at Euro Pacific Capital, which is
based in Westport, Connecticut.
The case is U.S. v. Conradt et al, U.S. District Court,
Southern District of New York, No. 12-cr-00887.