Hedge Fund Founder Turned Galleon Snitch Gets House Arrest

Law360, New York (February 13, 2013, 7:28 PM EST) -- Steven Fortuna, a hedge fund founder who admitted to insider trading then helped prosecutors convict two people linked to the Galleon Group LLC ring, was sentenced Wednesday to six months of house arrest.

Fortuna, whose S2 Capital LLC in 2008 made $2.4 million trading on confidential information ahead of an earnings report from technology company Akamai Inc., also must serve an additional 18 months of probation, U.S. District Judge Sidney Stein said at a hearing in Manhattan. Fortuna must wear an ankle monitor while under home...
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