Ex-UBS Exec Gets 6 Years In Insider Trading Case

Law360, New York (November 3, 2008, 12:00 AM EST) -- A Manhattan federal judge has sentenced former UBS Securities LLC research director Mitchel Guttenberg to six and a half years in prison and fined him $15.81 million for his role in a “massive insider trading scheme.”

Guttenberg, former executive director in the equity research department, will pay a penalty equivalent to his proceeds from the sale of illegal tips, U.S. Attorney Michael J. Garcia’s office s, which prosecuted the case in the U.S. District Court for the Southern District of New York, said Monday.

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