Sunday, 26 April 2015
Last updated 1 day ago
Nov 8 2011 | 9:23am ET
A federal judge has gone through with his plan to fine a man for passing confidential corporate information to his hedge fund manager son.
U.S. District Judge Robert Patterson said last month, while sentencing H. Clay Peterson to two years' probation and three months of house arrest, that he might also fine him $400,000. Last week, he decided that his initial inclination was the right one, and ordered the fine.
Peterson pleaded guilty in August to tipping his son Drew off to the impending acquisition of Mariner Energy, on whose board the senior Peterson served. Drew Peterson then tipped off another hedge fund manager, Big 5 Asset Management's Bo Brownstein. Both Drew Peterson and Brownstein have pleaded guilty in the case.
Prosecutors had not sought a fine from Patterson. Peterson's defense team suggested a $126,000 fine instead, citing their client's limited assets and his diminished future earnings capacity.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…