FrontPoint's Skowron Gets 5 Years For Insider Trading

Law360, New York (November 18, 2011, 2:59 PM EST) -- Former FrontPoint Partners LLC portfolio manager Joseph “Chip” Skowron III was sentenced Friday to five years in prison for making insider trades that allowed his Morgan Stanley-owned, health care-focused hedge fund to avoid $30 million in losses.

Skowron, a Yale-educated millionaire and doctor, pled guilty in August to making illegal trades using knowledge of a failed drug trial he had gleaned from a friend at Human Genome Sciences Inc. FrontPoint's health care funds folded after the public learned of the fraud.

U.S. District Judge Denise L....
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