The hedge fund manager Steven Fortuna was sentenced Wednesday to two years of probation for his participation in an insider-trading scheme involving nonpublic information on Akamai Technologies Inc. and other technology companies.
Fortuna, 50, of Westwood, pleaded guilty in October 2009 to three counts of conspiracy to commit securities fraud and one count of securities fraud after cooperating with an investigation by the US attorney in the Southern District of New York. He was sentenced in federal court in Manhattan and ordered to pay $200,000.
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Two years of probation for two million dollar fraud! The only explanation must be that Fortuna spent the two million on homeless shelters, food pantries and preschool programs for kids in poor neighborhoods. Yeah, that's it...that must be the explanation.
Two years of probation for two million dollar fraud! The only explanation must be that Fortuna spent the two million on homeless shelters, food pantries and preschool programs for kids in poor neighborhoods. Yeah, that's it...that must be the explanation.
He should have had to pay back $2million even if his firm made it and not him. Why didn't he go to jail? Because he cooperated? Did anyone go to jail over this? What a system.
Martha Stewart served a five month jail term for lying about a stock sale!
The Cambridge Chronicle (2/14) reported a 23 year old man was sentenced to six months in prison and two years of supervised release, on charges of theft. The man worked at a Newton division of Sallie Mae removed and attempted to raid the college savings (529) accounts of five sets of parents.