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Annabel McClellan pleads guilty, faces prison

Wednesday, April 6, 2011

image The aspiring Pacific Heights socialite and mobile sex app entrepreneur agrees to plead guilty to insider trading and obstruction of justice, admitting to overhearing insider information from husband Arnold McClellan when he was a partner at Deloitte Tax LLC, and passing it on to others.

Add plea: She faces up to five years in prison plus a fine and restitution to be determined by a federal judge. The Bay Citizen cites a statement released by Annabel’s lawyer today asserting that Arnold “had no knowledge of or involvement in her wrongdoing.” Although both husband and wife were named in a civil suit filed by the Securities and Exchange Commission, only Annabel faced criminal charges.

Add Annabel: The surprising if not entirely unexpected development means the housewife and mother of two will avoid the potentially circus-like publicity that likely would have accompanied a criminal proceeding. That seemed inevitable after word leaked shortly after her arrest last year that the charity-circuit regular and a friend were the brains behind ‘My Nookie,” touted as “the app your sex life and social life can’t be without.”

Image: Drew Altizer Photography/The Bay Citizen
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