New York (HedgeCo.Net) – The securities research analyst who had publicly refused in 2010 to wear a wire in a hedge fund insider trading trading probe was sentenced yesterday to over four years in prison, Bloomberg’s HedgeWorld reports.
John Kinnucan admitted that he supplied hedge funds with illegal tips. He has remained in custody since his arrest in 2012 after he failed to make bail.
“He was arrested last February, accused of passing tips to hedge funds, including sales trends for Apple Inc.’s iPhone, as well as tips related to OmniVision Technologies Inc. and SanDisk Corp.” Bloomberg reports.
“I’d just like to say I’m very sorry to everyone involved,” he told Manhattan District Judge Deborah Batts. “It wasn’t my intention and I’m deeply sorry.”
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