Wednesday, 30 July 2014
Last updated 13 hours ago
Apr 10 2012 | 2:43am ET
The former hedge fund manager who admitted to threatening 47 regulatory officials has been sentenced to more than two years in prison.
Vincent McCrudden was ordered to serve 28 months last week. He had faced up to 10 years in prison.
McCrudden pleaded guilty in July to transmission of threats to injure. The former commodities trader, who accused regulators, notably the Commodity Futures Trading Commission and National Futures Association, of pursuing a vendetta against him, had never denied posting an "execution list" naming 47 regulators, including the heads of the CFTC and Securities and Exchange Commission, but had previously claimed that the threats were not serious. But he had denied sending an e-mail promising to kill the NFA's Daniel Driscoll, a denial he retracted yesterday.
In that e-mail, which appeared to be from CFTC chief Gary Gensler, but whose language and origin in Singapore prosecutors said pointed to McCrudden, McCrudden wrote, "It wasn't ever a question of 'if' I was going to kill you, it was just a question of when."
"I wrote provocative language on my Web site that could have been perceived as threatening," McCrudden said. "I would never intentionally hurt or cause bodily harm to another human being."
U.S. District Judge Denis Hurley in Central Islip, N.Y., called McCrudden's crime "horrendous." But he declined to impose the 37 months sought by prosecutors.
McCrudden has asked to be credited for the 15 months he's spent in prison since his arrest last January.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…