Former Bank Execs Get 2 Years For Insider Trading

Law360, New York (August 29, 2011, 9:52 PM EDT) -- A Virginia federal judge on Monday sentenced two ex-New Peoples Bank Inc. executives to two years in prison for using insider information to help friends and family sell shares of the bank's stock at a higher price.

U.S. District Judge James P. Jones handed Kenneth D. Hart and Gary A. Lawson sentences of two years in prison and three years of probation, according to the U.S. Attorney's Office for the Western District of Virginia. They were also each ordered to pay a $7,500 fine and $6,420 in restitution....
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