Lankan guilty of insider trading
A Sri Lankan born former accounts manager at a semi-conductor company
who pleaded guilty in the US government’s campaign against insider
trading was sentenced to 18 months in prison on Thursday.
The convict had previously pleaded guilty in Manhattan federal Court
to passing tips about Taiwan Semiconductor Manufacturing Co to Primary
Global Research, a so-called ‘expert network’ that provides information
to investors and hedge funds. He is the latest defendant to be sentenced
as a result of crackdown by federal prosecutors on insider trading.