Fraudster facing 20 years
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Published
May 27, 2011, 4:00 a.m. ET
A former Nasdaq employee, Donald Johnson, pleaded guilty yesterday to securities fraud for insider trading on several occasions to reap more than $640,000 over three years, the US Justice Department said.
Johnson, 56, worked as a director and then managing director of Nasdaq’s market intelligence desk before retiring in October 2009, according to the US Attorney’s office for the Eastern District of Virginia.
During his tenure at the market, Johnson was responsible for monitoring the stock of companies traded on the Nasdaq as well as providing them information and analyses about trading in their own stock. He faces up to 20 years in prison and forfeiture of ill-gotten gains.