Ex-Insurance Exec Gets Probation For Insider Trading

Law360, New York (August 14, 2013, 6:19 PM EDT) -- A Colorado federal judge sentenced a former insurance executive to five years' probation Wednesday for his role in an insider trading scheme involving Delta Petroleum Corp. securities even though prosecutors wanted him locked up for a year.

U.S. District Judge Wiley Y. Daniel sentenced Michael Van Gilder, the former CEO of Van Gilder Insurance Corp., to five years probation plus six months' home detention and ordered him to pay a $5,000 fine during a hearing in Denver federal court.

Van Gilder pled guilty in May to...
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