A former Ernst & Young lawyer has been found guilty of six charges of insider trading this week after he passed on confidential information.

James Gansman worked in the transactions department of the accountancy firm, which proved very profitable for his then friend Donna Murdoch. Gansman passed on the details of potential takeovers to Murdoch, who would then buy stock in the targeted companies. In total she made nearly $400,000 from the tips, which wasn't enough to stop her selling Gansman down the river when the police came knocking. Having pleaded guilty in December last year, she then shopped up her co-conspirator who was found guilty of six charges of securities fraud.

Gansman gets a slap on the wrist