Danielle Chiesi admitted today in court that she used non-public information to make better trades for her former employer, Bear Stearns' New Castle Funds.
The state will make her grovel for this non-crime.
"Your honor, this guilty plea causes me great pain," she told Judge Richard Holwell.
"I'm deeply ashamed of what I did. By crossing the line on those occasions, I ruined a 20-year career in my field," she said. "I brought disrepute to what was an honorable profession."
All prosecutors involved will, of course, add this notch to their resume for when they step back in the revolving door and sign (for a big bonus) with a private law firm. There will never be any mention of any role they played in botched investigations of real crimes, such as Bernie Madoff's ponzi scheme.
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