Hedge Fund Manager Tom Gets Year In Prison

Law360, New York (July 20, 2009, 1:19 PM EDT) -- Hedge fund manager Michael K.C. Tom has been sentenced to a year and a day in federal prison for his alleged role in an insider trading scheme stemming from a 2004 tip he received about an impending bank merger.

Thursday's sentencing, in the U.S. District Court for the District of Massachusetts, came nearly three years after Tom's original sentencing hearing and more than a year after he settled civil charges by federal regulators.

Tom's prison term will be followed by three months of supervised release, prosecutors...
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