Jury Convicts Contorinis In UBS Insider Trading Case

Law360, New York (October 6, 2010, 6:22 PM EDT) -- A jury has convicted former Jefferies Group Inc. hedge fund manager Joseph Contorinis of securities fraud and conspiracy charges in connection with allegedly using inside tips from a UBS AG employee to make $7 million on Albertsons Inc. stock.

The jury handed down its verdict on Wednesday in the U.S. District Court for the Southern District of New York, finding Contorinis guilty of one count of securities fraud conspiracy and seven counts of securities fraud in connection with the alleged scheme. A sentencing hearing has been...
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