Ex-hedge fund boss seeks leniency at NY sentencing

NEW YORK (AP) — A former hedge fund manager convicted of insider trading charges for making as much as $50 million on a tip about Dell earnings is seeking leniency at a New York sentencing.

Lawyers for Manhattan resident Anthony Chiasson (chee-AY’-suhn) say he made less than a half-million dollars from illegal trades. The government has said he earned more than $50 million on a tip received about Dell Inc. stock in 2008.

The defense arguments were submitted to the sentencing judge Tuesday. The government will file a response. Sentencing is set for May 13.

Chiasson is the founder of Greenwich, Conn.-based Level Global Investors. He was convicted last year.

When the charges were first announced, prosecutors said the Dell trades represented the largest insider trading transaction ever prosecuted in Manhattan.

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