Ex-Morgan analyst guilty

Ex-Morgan analyst guilty

NEW YORK (Reuters): A former J.P. Morgan and Co. Inc. [JPM.N] analyst-trainee has pleaded guilty to trading on inside information about four companies that were subjects of takeovers, federal prosecutors said on Friday.

The trainee, Roy Handojo, 25, an Indonesian citizen who was employed at J.P. Morgan's Financial Institution Group, faces a possible maximum sentence of 10 years in prison and a $1 million fine.

Federal prosecutors said Handojo pleaded guilty on Thursday in federal court in Manhattan.

Handojo had been charged with making $350,000 from the trades. The trades involved Barnett Banks, Signet Banking Corp., ACC Consumer Financial Corp. and Great Financial Corp.

He is scheduled to be sentenced Feb. 9 before U.S. District Judge Robert Patterson.