Denver Hedge Fund Head Gets 1 Year For Insider Trading

Law360, New York (January 11, 2012, 7:37 PM EST) -- Denver hedge fund manager Drew “Bo” Brownstein was sentenced Wednesday in New York federal court to a year and a day in prison for trading on an insider tip about an acquisition by oil and gas company Apache Corp.

Brownstein, the 35-year-old founder of Big 5 Asset Management LLC, was also ordered to serve six months house arrest for trading on a tip from lifelong friend Drew Peterson, whose father served on the board of Apache acquisition target Mariner Energy Inc.

The tip, first exchanged at...
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