The U.S. attorney's office in Atlanta has announced the former head investor for a major children's clothing company pleaded guilty to conspiracy to commit securities and wire fraud in an insider trading scheme.
Eric M. Martin, of Roswell, worked for Carters Inc. and authorities say he traded stock between 2005 and 2009 based on non-public information about the company's finances. Officials say Martin also shared sensitive information with a former Wall Street analyst about the company before the information was released to the public.
Federal officials say 42-year-old Martin could receive a maximum sentence of 25 years in prison and a fine of up to $250,000. A sentencing date has not been set.
Roswell is about 20 miles north of Atlanta in Fulton County.