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Key witness in history’s largest hedge fund insider trading case gets 2 years’ probation in NY

Newser – A former financial consultant-turned-government witness was spared prison time Thursday and given only two years of probation after prosecutors credited him with helping convict a pair of Wall Street titans on insider trading charges.

Anil Kumar had pleaded guilty in 2010 to conspiracy to commit securities fraud and other charges and agreed to cooperate in the investigation of two old friends _ disgraced hedge fund manager Raj Rajaratnam and former Goldman Sachs board member Rajat Gupta. Both were convicted at separate trials in federal court in Manhattan on charges accusing Gupta of feeding Goldman secrets to Rajaratnam.

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