Prosecutors Seek Light Sentence For Helpful Inside Trader

Law360, New York (January 29, 2013, 7:38 PM EST) -- Prosecutors on Tuesday requested leniency for Karl Motey, a former hedge fund consultant who admitted to insider trading then testified against his former associates, saying his cooperation led to several convictions.

Motey's testimony helped convince juries to convict Doug Whitman, founder of the hedge fund Whitman Capital LLC, and James Fleishman, a sales executive at defunct expert networking firm Primary Global Research LLC, of insider trading-related offenses, prosecutors said in a letter to U.S. District Judge Jed S. Rakoff, who is scheduled to sentence him Monday. ...
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