NEW YORK May 10 Hedge Fund Level Global
Investors LP co-founder Anthony Chiasson was sentenced on Monday
to 6-1/2 years in prison for insider trading.
At a court 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 4-1/2 years in prison earlier
this month. Federal prosecutors had requested that Chiasson
serve as many as 10 years in prison.
The two were accused of using inside information to trade in
shares of computer maker Dell Inc and chipmaker Nvidia
Corp. Level Global made $68 million in illegal profits
from the trades, according to prosecutors.