(FINalternatives) Former Visium Asset Management portfolio manager Stefan Lumiere was sentenced in Manhattan federal court Wednesday to a year and a half in prison after being found guilty earlier this year on securities fraud charges.
The sentence, handed down by Judge Jed Rakoff includes a $1 million fine and three years of supervised release. Prosecutors had argued that a sentence of up to 14 years would be appropriate, according to Reuters. After the sentencing, Lumiere’s lawyers said they were pleased their arguments had found some traction with the court and that Lumiere would be appealing the conviction.
