Will no one stay strong with Raj?! Come on!
The guilty plea Wednesday by Adam Smith comes as prosecutors are preparing to bring Galleon founder Raj Rajaratnam to trial late next month. A second Galleon employee, Michael Cardillo, is expected to plead guilty later Wednesday, a person familiar with the matter said. Both men are cooperating with federal prosecutors in Manhattan and could be among the witnesses called at Mr. Rajaratnam's trial on conspiracy and securities-fraud charges. Mr. Smith is the 18th person to plead guilty in the probe.
"I knew what I was doing was wrong and I am forever remorseful about this terrible mistake," Mr. Smith said.