Wednesday, February 25, 2015

No prison for key informant in major insider trading case: Thomas Hardin sentencing

http://www.cnbc.com/id/102456755

NEW YORK (AP) — A former hedge fund manager who wore a wire to help prosecutors build a massive insider trading case was spared a prison sentence Wednesday after the government called his cooperation extraordinary.
Nearly seven years after Thomas Hardin started aiding what became one of the nation's biggest insider trading investigations, he called his prior conduct "reckless, selfish and inexcusable" as he was sentenced to time served — a brief period he was in custody before an initial court date years ago.
Thomas Hardin, far left standing during sentencing with his attorneys Kimberly Yuhas and Larry Krantz
"I'm incredibly humbled and ashamed," he said. "I've done my best to make amends by helping the U.S. government."
Hardin pleaded guilty in 2009 to conspiracy and securities fraud. He made his former firm more than $1 million by trading on secret information about such companies as Google Inc. and Hilton Worldwide, and he passed the tips to other traders who profited off them, Manhattan federal prosecutors said in sentencing papers.


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