SAN FRANCISCO—Annabel McClellan was sentenced to 11 months in prison for obstructing and impeding the due and proper administration of the law, U.S. Attorney Melinda Haag announced.
On April 5, 2011, McClellan, 38, entered a guilty plea to one count of obstruction in violation of 18 U.S.C. § 1505 stemming from false statements she made to the SEC during its insider trading investigation. According to that plea, she corruptly influenced, obstructed and impeded the due and proper administration of the law under which a pending proceeding was being conducted before the United States Securities and Exchange Commission (SEC).
According to the plea agreement, McClellan obtained confidential, non-public information about securities issued by public companies in the United States from her husband, Arnold McClellan, by overhearing his discussions at home in the course of his work advising private equity firms and other clients in confidential corporate transactions. McClellan conveyed the inside information to her sister, Miranda Sanders, and her brother-in-law, James Sanders, who both reside in London, United Kingdom. James Sanders traded in the London markets using the inside information. When the SEC investigated, McClellan lied to the SEC about her role in insider trading scheme in the course of her sworn testimony.
Today U.S. District Court Judge William H. Alsup accepted the plea and sentenced McClellan in accordance with the terms of the plea agreement.
“This investigation was the first time DOJ has coordinated a criminal investigation with both the SEC and the Financial Services Authority in London,” U.S. Attorney Haag said. “It is a good example of how DOJ and federal and foreign regulators can effectively investigate and prosecute complex frauds here and abroad.”
McClellan was ordered to surrender to the Bureau of Prisons and begin serving her prison sentence on Jan. 2, 2012.
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