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Ex-Morgan Stanley analyst and husband get 18 months
Jennifer Wang (R), a former Morgan Stanley financial analyst, and husband Ruopian Chen (C), a former ING analyst, are escorted by their lawyer as they exit the federal courthouse in New York, May 10, 2007. Wang and Chen were sentenced to a year and half each on Tuesday for insider trading.
Credit: Reuters/Lucas Jackson
NEW YORK |
NEW YORK (Reuters) - A former Morgan Stanley financial analyst and her husband, an ex-hedge fund analyst at ING, were sentenced to a year and half each on Tuesday for insider trading.
Jennifer Wang and Ruopian Chen, of Englishtown, New Jersey, were sentenced during a hearing in Manhattan before U.S. District Judge Colleen McMahon.
But in an unusual twist to the case, McMahon sentenced them such that Chen would finish his prison time before Wang is jailed. McMahon staggered the sentences as the couple have an infant son.
The couple had pleaded guilty to conspiracy and insider trading charges in September. Federal prosecutors accused them of trading based on nonpublic information that Wang had obtained from Morgan Stanley.
(Reporting by Paritosh Bansal)
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