Ex-AT&T executive pleads guilty in NY insider case

AP News
Posted: Jun 18, 2012 7:10 PM
Ex-AT&T executive pleads guilty in NY insider case

A former executive at AT&T has pleaded guilty in New York to charges in an insider trading scheme that authorities say involved the passing of secrets disguised as expert guidance.

Alnoor Ebrahim pleaded guilty Monday in federal court in Manhattan to charges of conspiracy to commit securities fraud and wire fraud. He was formerly an associate director of channel marketing at AT&T.

Prosecutors say the information that Ebrahim provided through his work for an expert networking firm involved information about product sales for the company's handset devices.

The government said Ebrahim was paid more than $180,000 to serve as a consultant for employees of Manhattan-based investment firms.

The 57-year-old Ebrahim lives in Alpharetta, Ga. Sentencing is scheduled for Oct. 25.