Home -> Law Blog Directory -> Criminal Law Blogs -> Sentencing Law and Policy

Criminal Law

: Sentencing Law and Policy

Insider trading leads to former UBS executive being inside prison for 78 months

By Douglas A. Berman

As detailed in this Reuters story, a former UBS executive is going to have to deal with a whole different kind of insider trading for more than six years in federal prison: A U.S. judge sentenced a former UBS AG executive to 6-1/2 years in prison on Monday for his role in what prosecutors called the most pervasive insider trading ring since the 1980s. Mitchel Guttenberg, a former institutional client manager in UBS' equity research department, admitted in a guilty plea in February to selling nonpublic information about the bank's stock recommendations. In handing down the sentence, which includes three years of supervision after his release, Judge Deborah Batts of U.S. District Court in Manhattan said, "from the moment he joined the (UBS) investment review committee he planned to give that information to others to use illegally...continue to full post

Full post as published by Sentencing Law and Policy on November 03, 2008 (boomark / email).