Trent Martin, a former analyst wanted by the U.S. in an insider-trading case over IBM's $1.2bn acquisition of SPSS Inc., pleaded not guilty in federal court in Manhattan after spending three months in a Hong Kong prison.
Bloomberg reports that Martin, an Australian citizen, returned to the U.S. March 28 after voluntarily agreeing to be extradited. A magistrate judge released him on a $250,000 bond after his court appearance yesterday in New York.
Martin, who is accused of conspiracy and securities fraud, was arrested in Hong Kong after his U.S. indictment last year. Martin, 33, who allegedly made a profit of $7,900 from insider trading, faces a 'relatively' light prison term under U.S. sentencing guidelines, Assistant U.S. Attorney Assistant U.S. Attorney David Massey said in court.
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image: © Michael Coté