US Seeks To Reduce Helpful Lancer Trader's Sentence

Law360, New York (September 28, 2011, 4:26 PM EDT) -- Prosecutors asked a Florida federal judge on Wednesday to reduce the five-year prison sentence of former Lancer Group securities trader Eric Hauser, who pled guilty in 2009 to manipulating stock trades to bilk investors out of more than $200 million.

Hauser deserves leniency because he testified against his alleged co-conspirators, Lancer co-owners Michael Lauer and Martin Garvey, prosecutors' motion said. A federal jury in Miami acquitted both Lauer and Garvey of all charges in April.

"As a result of his cooperation in this case, the government believes that Hauser has provided substantial assistance in the prosecution of others and that his...

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