A former employee of a so-called expert network firm pleaded guilty yesterday to charges of conspiring with others to leak corporate secrets to hedge funds in exchange for money.

Former Primary Global Research executive Don Ching Trang Chu pleaded guilty to one count each of conspiracy to commit securities fraud and conspiracy to commit wire fraud at a hearing before US Judge Jed Rakoff in Manhattan.

Chu is one of at least 13 people charged over the solicitation of illegal stock tips from consultants working for expert network firms, which match investors with public companies.

Chu, 57, faces up to 25 years in prison, but prosecutors recommended a sentence of up to six months in his plea agreement.