A former executive at a New York investment firm pleaded guilty to an insider trading charge Wednesday, blaming drugs and long work hours in part for using information from drafts of press releases to earn nearly $1 million.
Michael Lucarelli entered the plea to a federal securities fraud charge before Southern District Judge Jesse M. Furman on Wednesday, his 52nd birthday, agreeing with prosecutors that federal sentencing guidelines call for a prison sentence of between three and four years. Sentencing was set for Jan. 8.
