Law and Regulations

Aggarwal agrees to plead guilty to SAC Capital insider trading

Scott Cohn, CNBC Senior Correspondent
Sandeep Aggarwal
Source: CNBC

Yet another defendant has agreed to plead guilty in the Manhattan U.S. attorney's sweeping insider trading probe, CNBC has learned. Former sell-side analyst Sandeep Aggarwal, charged in July with providing inside information to a portfolio manager at SAC Capital, is scheduled to appear in court on Friday to enter a guilty plea.

In July, prosecutors charged him with two counts of conspiracy for passing on information about a pending partnership between Microsoft and Yahoo to SAC portfolio manager Richard Lee. In July, Lee pleaded guilty to insider trading, and SAC this week agreed to plead guilty to criminal charges and pay a record $1.2 billion penalty.

Aggarwal was with Collins Stewart (which was later acquired by Cannacord Genuity) during the alleged misconduct in 2009. At the time Aggarwal was charged, Cannacord said it had cooperated in the investigation. Aggarwal was an occasional guest on CNBC.

(Read more: SAC to end advisory business in plea agreement)

SAC fallout: Aggarwal to plead guilty

A spokesman for the U.S. attorney's office declined to comment on details of the apparent plea agreement, which was disclosed in a court filing. Aggarwal's attorneys declined to comment.

The plea, still subject to court approval, would bring to 76 the number of individuals convicted in U.S. Attorney Preet Bharara's four-year insider trading crackdown.

—By CNBC's Scott Cohn; Follow him on Twitter: @ScottCohnCNBC