Level Global Investors' Chiasson Gets 6½ Years in Prison
Hedge Fund Level Global Investors co-founder Anthony Chiasson was sentenced to 6½ years in prison on Monday for insider trading.
At a hearing in Manhattan, U.S. District Judge Richard Sullivan also ordered Chiasson, 39, to pay a $5 million fine.
Chiasson and Todd Newman, a former hedge fund portfolio manager with the now-defunct hedge fund Diamondback Capital Management, were convicted of conspiracy to commit securities fraud and of securities fraud in December.
Sullivan sentenced Newman to 4½ years in prison earlier this month. Federal prosecutors had requested that Chiasson serve up to 10 years in prison.
_ By Reuters