Another Defendant Pleads Guilty in “Golden Goose” Insider Trading Case

Another defendant has pleaded guilty in the “Golden Goose” insider trading case.  Frederick Bowers, a former salesman at Lehman Bros., pleaded guilty yesterday to federal charges that he traded on stock tips gleaned from the wife of his colleague, Matthew Devlin.  Bloomberg reports that Bowers pleaded guilty to conspiracy and securities fraud and agreed to forfeit $12,000.  He faces up to 18 months in prison.

The guilty plea is the third in the case since May 5.  As previously discussed here, Eric Holzer and Jamil Bouchareb have also pleaded guilty since that date.

Read the Bloomberg article