Bennett told the judge he met his colleague, identified by prosecutors as Scott Allen, a former investment adviser from Atlanta, at Manhattan restaurants and paid him an unspecified amount of money for the tips. He pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud. Bennett gained $1.1 million in profits trading on the information he got from Allen, according to prosecutors in the office of Manhattan U.S. Attorney Preet Bharara.
Read more: Film Producer John Bennett Pleads Guilty to Insider Trading — Business Week
