Ex-Broker Gets 5 Years In UBS Insider Trading Scam

Law360, New York (February 25, 2009, 12:00 AM EST) -- A former broker with Assent LLC has been sentenced to more than five years in prison for his role in what has been described as the most pervasive Wall Street insider trading scam in history.

David Tavdy, 40, was sentenced Tuesday in the U.S. District Court for the Southern District of New York to 63 months behind bars and ordered to forfeit $10.3 million after pleading guilty to conspiracy and securities fraud in connection with the multimillion-dollar scam.

The U.S. Attorney's Office said Tuesday that Tavdy...
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