Hedge Fund Tipster Seeks Short Prison Term, House Arrest

Sep 12 2011 | 12:28pm ET

An expert-network consultant convicted of passing confidential information to hedge fund clients of Primary Global Research doesn't want to spend any more than six months behind bars for his crimes.

Manosha Karunatilaka asked for a six month prison sentence and an equal spell of house arrest. His letter to U.S. District Judge Jed Rakoff, who will sentence him on Thursday, follows a request from prosecutors seeking as much as four years in prison for the former Taiwan Semiconductor Manufacturing manager.

"I am a good person that made a terrible mistake and fell from grace," Karunatilaka wrote. He received about $35,000 for passing tips to Primary Global clients, he admitted in May. One hedge fund receiving the tips made about $1.7 million.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...