Denver Hedge Fund Head Gets 1 Year For Insider Trading

Law360, New York (January 11, 2012, 7:37 PM EST) -- Denver hedge fund manager Drew “Bo” Brownstein was sentenced Wednesday in New York federal court to a year and a day in prison for trading on an insider tip about an acquisition by oil and gas company Apache Corp.

Brownstein, the 35-year-old founder of Big 5 Asset Management LLC, was also ordered to serve six months house arrest for trading on a tip from lifelong friend Drew Peterson, whose father served on the board of Apache acquisition target Mariner Energy Inc.

The tip, first exchanged at...
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.