Tuesday, 28 July 2015
Last updated 15 hours ago
Aug 11 2014 | 6:18am ET
Brian Jorgenson hoped that the more than $400,000 he and a friend earned illegally trading Microsoft Corp. shares would pave the way to hedge-fund success. Instead, he’ll pay for the profits with two years of his life.
Jorgenson and a friend used information he received as an employee of Microsoft’s treasury department to make the trades, which they hoped would be part of an investment track-record that would allow them to launch their own hedge fund. The scam ran from early 2012 through the end of last year, when Jorgenson and his friend, Sean Stokke, were arrested. Jorgenson pleaded guilty earlier this year.
On Friday, U.S. District Judge Marsha Pechman in Seattle sentenced Jorgenson to two years in prison, saying it was “important that you serve as a public example.” Stokke, whom Jorgenson admitted to enticing into the scheme, received one-and-a-half years two weeks ago. Both men had faced up to 20 years in prison.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…