New York (HedgeCo.net) – Jason Goldfarb has been sentenced to three years in prison for passing information to a stock trader about mergers and acquisitions in exchange for $32,500 in cash bribes, Reuters reports.
Goldfarb pleaded guilty on Friday to “Participating in a scheme to trade on corporate secrets from a prominent law firm.” The hedge fund lawyer is among the roughly 50 people who have been charged in a wide-ranging probe focused on insider trading at hedge funds.
Reuters reported that the evidence showed that Goldfarb was one of the leaders of a “sophisticated scheme that was designed to steal privileged information, confidential information from its clients to be used by hedge fund managers and traders.”
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