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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Kinnucan Gets 51 Months for Insider Trading

Jan 17, 2013
Jing Chen

The head of an Oregon-based investment research firm Broadband Research was sentenced to over four years in prison Tuesday for his participation in an insider trading scheme.

According to a statement from the office of U.S. Attorney Preet Bharara, John Kinnucan’s 51-month prison term was also due to “obscene, hateful, despicable and repetitive” voicemails he left prosecutors and FBI agents before his arrest. He was also sentenced to three years of supervised release and will forfeit $164,000 as part of his plea agreement.

Kinnucan pleaded guilty last year to conspiracy to commit securities fraud and two counts of securities fraud for giving hedge funds and money managers confidential information from 2008 to 2010. 
Source: 

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