ARMONK – Former senior IBM executive Robert Moffat, Jr., Monday pled guilty in federal court to two counts charging him with conspiracy and securities fraud stemming from his involvement in the largest hedge fund insider trading case in history.

The charges stemmed from inside information relating to IBM, AMD and Lenovo Group Ltd. and Moffat’s providing it to a friend, Danielle Chiesi, who worked at the time with New Castle Partners, an equity hedge fund group affiliated with JPMorgan Chase and Co.

Moffat, 53, of Ridgefield, CT, was charged with one count of conspiracy to commit securities fraud and one count of securities fraud. The conspiracy count carries a maximum sentence of five years in prison and a fine of up to $250,000. The securities fraud count carries a maximum sentence of 20 years in prison and a fine of $5 million.