NEW YORK – The co-founder of a Connecticut hedge fund has been sentenced to 6 1/2 years in prison in connection with insider trading that authorities say brought in nearly $70 million in illegal profit to his firm.
Anthony Chiasson, of Manhattan, was sentenced Monday by U.S. District Judge Richard Sullivan.
The 39-year-old Chiasson was convicted in December of five counts of securities fraud and one count of conspiracy to commit securities fraud.
Prosecutors said Chiasson was part of a group of portfolio managers and analysts who got inside information from employees at publicly traded companies.
In one example, the government said Chiasson earned about $50 million illegally by trading on a tip about Dell Inc. stock in 2008.
Chiasson was with Greenwich, Conn.-based Level Global Investors.