Stern’s ex-accountant guilty of insider trading

The former president of an accounting firm used by Howard Stern pleaded guilty Monday to charges of insider trading in shares of Sirius Satellite Radio Inc. before the announcement of the shock jock’s move to the network.

Gary D. Herwitz, 50, formerly of Mahoney Cohen & Co., faces up to 16 months in prison at his sentencing March 17.

“My trading in Sirius was wrong,” Herwitz told a judge during a hearing in federal court in Brooklyn, N.Y.

The scheme unfolded after Stern sought financial advice from the New York City firm’s chief executive – Stern’s personal accountant for the previous 19 years – about making a move to Sirius once his contract with Infinity Broadcasting Corp. expired, court papers said. Infinity is part of Viacom Inc.

Stern formally starts on air at Sirius Jan. 9.