Stern School Grad Flunks Insider Trading 101 With Felony Plea

A junior analyst at RBC Capital Markets has pleaded guilty to insider trading in New York, a year after serving as student body president of New York University’s prestigious Stern School of Business.

Bill Tsai, 23, told U.S. Magistrate Judge Ona Wang during a Sept. 19 hearing that he used non-public information about a planned acquisition to buy options contracts, which netted him a profit of almost $100,000, court records show. He faces as long as 20 years in prison, though his plea agreement suggested he may not get more than two years. A tentative sentencing date was set ...