Day Traders Put Behind Bars For Insider Trading

Law360, New York (December 9, 2011, 6:40 PM EST) -- Two former day traders were sentenced in New York on Friday to 30 months and 6 months in prison, respectively, over an insider trading scheme fueled by tips that a former Lehman Brothers Holdings Inc. employee got from his wife.

U.S. Judge Victor Marrero also ordered Jamil A. Bouchareb, who was hit with the 30-month prison term, to forfeit $1.5 million and pay a $20,000 fine, while Daniel A. Corbin, who faces the 6-month jail sentence, was ordered to forfeit $1 million, according to Preet Bharara,...
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