Ex-Keystone Chair Gets 3 Months For Trading Scheme

Law360, New York (May 12, 2011, 7:28 PM EDT) -- The 71-year-old former chairman of Keystone Equities Group received a three-month prison sentence Thursday in New York for trading on inside information from a former Ernst & Young LLP partner about impending acquisitions.

U.S. District Judge Paul A. Crotty handed down the sentence in Manhattan federal court to Richard A. Hansen, appearing to struggle with an appropriate punishment for the silver-haired businessman.

In addition to three months in prison, Hansen was ordered to spend two years under probation, with five months of that time spent in...
To view the full article, register now.