New York (HedgeCo.Net) – Hedge Fund manager Anthony Chiasson, who was found guilty of insider trading charges back in December 2012, was yesterday sentenced to six and a half years in prison by Judge Sullivan, of the Federal District Court in Manhattan.
The Judge was shocked by the hedge fund manager’s annual income listed on his tax returns. “$16 million, $10 million, $23 million. That’s just staggering,” the judge said, according to the NYT. “It’s hard to imagine why someone would risk all that to engage in a crime like this.”
Manhattan-based Chiasson is a co-founder of Greenwich, Conn.-based Level Global Investors. The government said he earned about $50 million illegally by trading on a tip received about Dell Inc. stock in 2008.
He was also was ordered to pay $5 million in fines and to forfeit illegally obtained proceeds of as much as $2 million.
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