Wang also pleaded guilty to laundering proceeds through a shell company based in the British Virgin Islands, in an effort to disguise ownership and avoid taxes, prosecutors said. "Jing Wang blatantly and repeatedly abused the trust placed in him by Qualcomm and the company's shareholders," US Attorney Laura Duffy said in a statement. Wang had been indicted in September along with his brother Bing Wang and broker Gary Yin, who worked at Bank of America Corp's Merrill Lynch unit. Yin pleaded guilty in September to conspiring to help the brothers obstruct justice and launder money. He is scheduled to be sentenced on Sept. 15. An arrest warrant is outstanding for Bing Wang, who is believed to live in China.