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HF Manager Doug Whitman Sentenced

Jan 28, 2013
Jing Chen

Former California hedge fund manager Doug Whitman was sentenced to two years in jail last week.

Whitman, the founder of Whitman Capital, was also ordered to pay a $250,000 fine and to forfeit $935,306 by U.S. District Judge Jed Rakoff in a Manhattan federal court.

Whitman was convicted last year of conspiracy and securities fraud for trading on confidential information about Google, Polycom and other technology firms that earned his hedge fund nearly $1 million in illegal profits.

According to a Financial News article, Whitman’s lawyers plans to appeal his conviction.

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