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Nvidia Analyst Pleads Guilty To Insider Trading

Former Nvidia financial analyst and 39 year old Sonny Nguyen pleaded guilty today to a criminal charge. Nguyen pleaded guilty to tipping a former Global Research consultant about Nvidia’s quarterly financial results before they were announced to the public. He claimed to have done this both in 2007 and 2008. Nguyen was released on a $100,000 bond but is expected to testify at the trial.

He is among at least 14 people who have been charged in the investigation and pleaded guilty to a charge of conspiracy to commit wire fraud and securities fraud. I suppose Nguyen was looking for a lighter sentence by pleading guilty and spilling the beans. He said, “I provided material nonpublic information to my co-conspirators … about Nvidia Corporation quarterly financial results and in exchange I received similar stock tips.”

The former financial analyst also identified two co-conspirators, Winifred Jiau and Stanley Ng. Nvidia released a statement saying that Nguyen was put on administrative leave and he has since resigned from the company. The Silicon Valley electronics company continues to work with the FBI and the legal system in providing them any information they seek during the case.

Photo Courtesy of Nvidia
Photo Courtesy of Nvidia