Former IR exec who dashed from cameras barefoot pleads guilty

Michael Lucarelli pleaded guilty on Wednesday to insider trading charges.

Former Lippert/Heilshorn & Associates market intelligence director Michael Lucarelli pleaded guilty on Wednesday to insider trading charges – specifically that he used information from not-yet-distributed press releases for his own financial benefit.

He is facing a maximum of 20 years in prison. Sentencing is set for January 8, 2015.

Lucarelli blamed long work hours and drug use during his guilty plea, according to numerous reports.

The former IR executive gained national attention after his August arrest, when he dashed from a Manhattan court house barefoot and wearing a tank top to avoid waiting photographers. The scamper was featured on The Daily Show’s Moment of Zen segment.

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