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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: maceng2 who wrote (172045)	6/12/2002 4:09:50 AM
From: maceng2	Read Replies (2) of 436258

Porn star admits insider trading A porn star who scored on the stock market using secret tips from a Wall Street executive has pleaded guilty to insider trading. Kathryn Gilley told a Manhattan court: "I knew what I was doing was wrong". The actress, who also goes by the names Kathryn Gannon and Marilyn Star, was released on a £203,000 bond. She faces up to five years in prison. The star of movies such as Babe Watch 3, Coming of Age and Unchained Marilyn was arrested in 2000. Her case has attracted attention because of her profession and because her co-conspirator, James McDermott Jr, was a £3 million-a-year executive known for his appearances on television investment programmes. Mr McDermott pleaded guilty last year and was sentenced to five months in prison. He admitted giving Ms Gilley insider tips about regional bank stocks in 1997 while he was chief executive of Keefe Bruyette & Woods, a New York-based investment bank specialising in mergers and acquisitions in the banking industry. Mr McDermott admitted tipping her off about Sun Trust's potential acquisition of Barnett Banks. She bought 1,800 shares the next day, which resulted in £115,000 in illegal profits. ananova.com

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