Prosecutors Want More Prison Time For Ex-UBS Trader

Law360, New York (March 17, 2011, 7:18 PM EDT) -- Prosecutors in New York on Wednesday asked a federal judge to order former UBS Securities Inc. banker Igor Poteroba to serve at least 2 1/2 years in prison for insider trading, days after the defendant asked for a sentence of time served.

Federal prosecutors said Poteroba was a repeat offender who should get prison time to deter others from insider trading, according to a sentencing memorandum filed by prosecutors in the U.S. District Court for the Southern District of New York.

"Because insider trading schemes are...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.