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.
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.