Wednesday, 1 April 2015
Last updated 8 hours ago
Jan 30 2013 | 12:48pm ET
Whereas Roomy Khan can expect only equivocal support from prosecutors at her sentencing for insider-trading tomorrow, another key cooperating witness will get full-throated backing for leniency next week.
Karl Motey offered "extraordinary" assistance to the federal insider-trading crackdown, prosecutors wrote to the judge who will sentence him on Monday. Motey's lawyer asked that his client received just a year on probation in recognition of that cooperation.
According to Assistant U.S. Attorney Jillian Berman, Motey began cooperating soon after he was approached by the Federal Bureau of Investigation and recorded more than 400 phone calls and other conversations with more than 50 people. His assistance led to the prosecution of more than 20 people, and he testified against hedge fund manager Doug Whitman and expert-network sales executive James Fleischman, both of whom were convicted.
"Motey's assistance has been critical to the investigation and prosecution of dozens of individuals involved in insider trading, most significantly in the area of the government's investigation of the expert networking firm" Primary Global Research, where Fleischman worked, Berman wrote.
And Motey's cooperation continues, prosecutors said.
In addition to Motey, who pleaded guilty two years ago to fraud and conspiracy, two other cooperators will learn their fates in the next few days. Both Khan, whose "series of lies" prosecutors complained about in their sentencing memorandum, and former hedge fund analyst Jason Pflaum will be sentenced tomorrow.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…