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.

blog comments powered by Disqus