Former Hedge Fund Manager Pleads Not Guilty

Law360 (September 25, 2006, 12:00 AM EDT) -- A former hedge fund manager appeared in federal court in Manhattan today to answer for insider trading charges lodged by the U.S. Attorney for the Southern District of New York.

Hilary L. Shane is charged with five counts of securities fraud, each of which carries a maximum sentence of 20 years in prison. Shane also faces the possibility of millions of dollars in fines.

Shane pled not guilty and was released on her own recognizance, said a spokesperson for the U.S. Attorney’s Office in Manhattan....
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