Ex-Boston Provident Exec Sentenced To 67 Months

Law360, New York (June 28, 2010, 6:20 PM EDT) -- A judge has smacked the former chief financial officer of hedge fund Boston Provident LP with nearly six years in prison for allegedly having the fund secretly buy his securities at inflated prices.

Levy, who pled guilty in March to charges of securities and wire fraud, will also pay $2.98 million in restitution on top of his 67 months in prison, representatives of the U.S. attorney’s office said Monday.

Levy could have faced up to 20 years in prison for each of the counts. He was...
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