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The Boston Globe


Hedge fund manager Fortuna of Westwood sentenced to probation in insider trading case

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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