Stanko Grmovsek entered the plea related to his involvement after turning himself in to police on October 26.

In a settlement with the Ontario Securities Commission, Grmovsek admitted to illegal insider trading and acting in a manner contrary to the public interest.

In addition to being ordered to disgorge the illegal proceeds, Grmovsek has been banned from buying or selling securities and becoming or acting as a director or officer of any issuer or registrant.

RCMP and staff at the provincial regulator alleged Grmovsek engaged in fraud by trading on inside information between 1994 and 1999 and engaged in prohibited insider trading between 2004 and 2008.

The investigators also alleged that Grmovsek laundered the profits derived from fraud and illegal insider trading between 1994 and 2008.