Mariner Energy Exec Dodges Jail For Insider Trading

Law360, New York (October 11, 2011, 7:47 PM EDT) -- A New York federal judge on Tuesday declined to impose jail time on a former Mariner Energy Inc. board member who gave his son insider knowledge that Mariner would be bought by Apache Corp. for $2.7 billion.

H. Clayton Peterson, a 65-year-old Denver businessman who pled guilty in August to passing insider information to his son Drew Peterson, was sentenced to three months' house arrest to be followed by 21 months probation. He will also pay a $400,000 fine — much more than the $60,000 the...
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