A former Goldman Sachs employee pleaded guilty Tuesday to conspiracy to commit securities fraud and eight counts of insider trading, admitting he plotted to steal more than $6.7 million (euro4.9 million).
Eugene Plotkin, 28, of Manhattan, entered the plea in U.S. District Court, where he had been charged in April 2006 in the wide-ranging insider trading scheme that included plots to corrupt a grand juror and to steal market moving tips from a business magazine prior to publication.
Although the charges carry a potential maximum prison term of 165 years, Plotkin signed a plea agreement in which he promised not to appeal any sentence between four years and nine months, and five years and 11 months in prison.
"Words can't express how sorry I am for the harm I have caused to others, especially my family," Plotkin said in court.
Sentencing was set for Nov. 30.