TRENTON, N.J. (AP) — Federal prosecutors in New Jersey
say a Connecticut man has admitted his role in an insider trading
scheme related to the sale of a Florida-based medical products firm.
Holley of Norwalk, Conn., interrupted his trial to plead guilty
Wednesday to two counts of securities fraud. That came one day after
prosecutors had rested their case against him.
Holley faces up to 40 years in prison when he's sentenced Dec. 4.
was chairman and CEO of Fort Lauderdale, Fla.-based Home Diagnostics
Inc. Prosecutors said Holley disclosed inside information about a
Japanese firm's plan to acquire Home Diagnostics to his cousin and
friend and told them to buy Home Diagnostics stock just three weeks
before the merger was publically announced.