John Kinnucan Expected to Plead Guilty to Insider Trading
Research analyst John Kinnucan is expected to plead guilty Wednesday to charges related to insider trading, a source close to the case told CNBC.
Kinnucan was charged earlier this year for obtaining non-public information about publicly traded companies and selling that information to clients including hedge funds.
A hearing is scheduled for Wednesday at 11:30am ET in federal court in New York City.
Kinnucan was denied bail earlier this year. At the bail hearing, prosecutors argued against releasing Kinnucan, saying he was a threat to authorities overseeing the case. They highlighted threatening messages Kinnucan allegedly sent to FBI agents and cooperating witnesses.
Kinnucan is currently incarcerated at the Metropolitan Detention Center in Brooklyn, NY.
The US Attorney's office declined comment.
Kinnucan's court-appointed defender did not return request for comment.
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