Technology analyst John Kinnucan was arrested Friday and is facing charges related to insider trading after he made $110 million in illegal business deals, according to CNN.com.
Kinnucan, 54, is under investigation for befriending insiders at corporations like Apple and Dell for information that he then sold to portfolio managers and analysts.
Kinnucan was arrested in his home in Oregon, but will be moved to New York, according to the U.S. Attorney's office for the Southern District of New York.
According to businessweek.com, he is charged with one count of conspiracy to commit securities fraud, one count of conspiracy to commit wire fraud and two counts of securities fraud in the complaint unsealed today in federal court in New York.
According to Kinnucan, in October of 2010 the FBI asked him to wear a wire in an insider-trading investigation, and he shut down the Broadband Research Corp. shortly after.
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