Ameriprise Adviser Gets 6 Months For Insider Trading

Law360, Philadelphia (July 2, 2013, 5:31 PM EDT) -- A Pennsylvania federal judge on Tuesday sentenced a former Ameriprise Financial Services Inc. adviser to six months in prison and a $100,000 fine for using insider information to purchase shares in a soon-to-be acquired insurance company and then lying about the trades to investigators.

U.S. District Judge Timothy Savage's sentence for former broker Timothy McGee fell far below the federal sentencing guidelines of 41 to 51 months in prison. But McGee, who was convicted in November on one count of securities fraud and one count of perjury,...
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