UBS Insider Trader Wants Time-Served Sentence

Law360, New York (December 6, 2010, 7:26 PM EST) -- A former UBS AG banker has asked a federal court to issue him a time-served sentence following his guilty plea to allegations of securities fraud and conspiracy to commit insider trading and his forfeiture of proceeds from a scheme that netted more than $8 million.

Nicos Stephanou told the U.S. District Court for the Southern District of New York on Friday that the 19 months he’s already served in New York’s Metropolitan Correctional Center, on top of a nearly $1 million forfeiture, was an adequate sentence,...
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