DEVENS — The hedge fund founder handed the longest prison term ever given for insider trading reported to a federal facility in Massachusetts early this afternoon to begin serving his 11-year sentence.
Prosecutors said he made more than $70 million in illegal profits in an insider trading scheme that enlisted friends and associates in the hedge fund industry and at public companies to provide inside information about earnings, mergers and acquisitions
Full article here:
http://bostonherald.com/news/regional/view/20111205ny_hedge_fund_founder_reports_to_prison_in_mass/
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