Saturday, April 20, 2013

Inside trader to Judge: Go easy

It wasn’t for the money — at least not a lot of it.  According to the NY Post former Diamondback Capital portfolio manager Todd Newman asked a judge for “leniency” yesterday when he is sentenced next month as part of a $72 million insider-trading conspiracy in computer-maker Dell and a software firm.

Newman, who faces up to 78 months in prison, claims he should receive a much lighter sentence because he pocketed only $442,761 on his trade — just 12 percent of the $4 million the government claims.

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