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.


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