NEW YORK – A New York plumber won't have to serve any prison time after admitting his role in an insider trading scheme that involved a former Barclays director.
Gary Pusey (POO'-zee) of Mineola, New York, was sentenced in Manhattan federal court Thursday to probation. He was credited for his cooperation in the probe.
Prosecutors say Pusey and ex-Barclays director Steven McClatchey were close friends when McClatchey fed him inside information from 2014 through September 2015, enabling Pusey to make $76,000 illegally. McClatchey, formerly a director in mergers and acquisitions at Barclays, was sentenced to five months in prison in January.
Pusey apologized before he was sentenced by Manhattan federal Judge Katherine Polk Failla (FYE'-eh-luh). The judge says it seemed the episode was "a blip on the radar of his life."