Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Former Dean Foods chairman gets two years for insider trading scheme
Source: Reuters
#U.S. OCTOBER 19, 2017 / 5:13 PM / UPDATED 4 HOURS AGO
Former Dean Foods chairman gets two years for insider trading scheme
Brendan Pierson
2 MIN READ
NEW YORK (Reuters) - Thomas Davis, a former chairman of dairy processing company Dean Foods Co, was sentenced on Thursday to two years in prison after pleading guilty to passing insider information to sports gambler William “Billy” Walters.
Davis was sentenced by U.S. District Judge Kevin Castel in Manhattan, who also ordered him to pay about $8 million in restitution, according to Nicholas Biase, a spokesman for federal prosecutors.
Lawyers for Davis could not immediately be reached for comment.
Davis served as prosecutors’ key witness in Walters’ insider trading trial earlier this year, testifying that he gave Walters insider information for years using coded messages and a pre-paid “burner” cell phone that the two called the “bat phone.”
-snip-
Former Dean Foods chairman gets two years for insider trading scheme
Brendan Pierson
2 MIN READ
NEW YORK (Reuters) - Thomas Davis, a former chairman of dairy processing company Dean Foods Co, was sentenced on Thursday to two years in prison after pleading guilty to passing insider information to sports gambler William “Billy” Walters.
Davis was sentenced by U.S. District Judge Kevin Castel in Manhattan, who also ordered him to pay about $8 million in restitution, according to Nicholas Biase, a spokesman for federal prosecutors.
Lawyers for Davis could not immediately be reached for comment.
Davis served as prosecutors’ key witness in Walters’ insider trading trial earlier this year, testifying that he gave Walters insider information for years using coded messages and a pre-paid “burner” cell phone that the two called the “bat phone.”
-snip-
Read more: http://www.reuters.com/article/us-usa-insidertrading-walters-davis/former-dean-foods-chairman-gets-two-years-for-insider-trading-scheme-idUSKBN1CO32T
1 replies
= new reply since forum marked as read
= new reply since forum marked as read