A business associate of EarthLink Inc. co-founder Reed Slatkin has agreed to plead guilty in an elaborate scheme to obstruct the Securities and Exchange Commission's investigation of Slatkin.
Daniel Jacobs will plead guilty to conspiracy to obstruct justice when he is arraigned next month, the SEC and the U.S. attorney's office in Los Angeles said Tuesday.
Slatkin, 53, who also served as a financial advisor to celebrities, business executives and socialites, pleaded guilty in April to five counts of mail fraud, three counts of wire fraud, six counts of money laundering and one count of conspiracy to obstruct justice.
In his plea agreement, Jacobs, 60, acknowledged that when the SEC began its investigation of Slatkin in 1999, he and others provided the SEC with false documents on NAA Financial, a bogus Swiss brokerage firm in which Slatkin claimed he was holding investors' funds.