A former senior managing director at a New York hedge fund investment firm has been sentenced to more than two years in prison in what prosecutors call the largest hedge fund insider trading case in history.
Mark Kurland was sentenced Friday to two years and three months in prison. He was among 21 people arrested in a case that the government said earned participants more than $50 million in profits.
The 61-year-old Kurland was among 11 people who have pleaded guilty in the case. Many of the others had agreed to cooperate with the government, a step which delays their sentencing.
Kurland had pleaded guilty to conspiracy to commit securities fraud and securities fraud.