Millennium Trader Gets Probation For Late Trading

Law360, New York (January 17, 2007, 12:00 AM EST) -- A former mutual fund trader at hedge fund Millennium Partners who was the first person to plead guilty in the 2003 investigation of the mutual fund industry has escaped a prison term thanks to his plea bargain with prosecutors.

Justice James Yates of the New York State Supreme Court sentenced Steven Markovitz to five years of probation and 300 hours of community service, allowing him to dodge a four-year prison sentence.

Markovitz evaded the sentence by agreeing to plead guilty to a single violation of New...
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