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MAY 02, 2013 - Yahoo! News

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Ex-fund manager sentenced to prison for insider trading

By Bernard Vaughan NEW YORK (Reuters) - Former Diamondback Capital Management portfolio manager Todd Newman was sentenced to 4-1/2 years in prison on Thursday for insider trading in the stock of Dell Inc and Nvidia Corp . U.S. District Judge Richard Sullivan also ordered Newman, 48, to forfeit $737,724 and to pay a $1 million fine. Sullivan called Newman a "decent" man and said it "breaks my heart" to have read letters about the impact his incarceration could have on his 12-year-old daughter, but that a stiff penalty was warranted. ...

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