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Ex-FrontPoint fund manager to serve 5 years prison

Reuters – Former FrontPoint Partners hedge fund manager Dr. Joseph “Chip” Skowron was sentenced to five years in prison on Friday for his role in an insider trading scheme.

Skowron, one of the most prominent investors to become embroiled in a sweeping U.S. crackdown on insider trading at hedge funds, pleaded guilty in August to trading in 2008 in stock of Human Genome Sciences Inc on nonpublic information.

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