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Ex-Merrill Analyst Sentenced to 37 Months for Insider Trading

A former analyst at Merrill Lynch who pleaded guilty to insider trading was sentenced Friday to three years and a month in prison for his part in a sprawling scheme that involved information from investment bankers and leaked copies of a market-moving magazine.

Stanislav Shpigelman, 24, of Brooklyn, had admitted tipping other participants who made more than $6.7 million from October 2004 to August 2005. At the time, he worked in Merrill Lynch's mergers and acquisitions division.

In a plea deal he signed with prosecutors, Shpigelman admitted to a single count of conspiracy to commit insider trading in return for a recommendation that he serve between three and four years in prison.

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