Almost half a year after pleading guilty, Mark Kurland, former hedge fund manager and executive at Bear Stearns Asset Management, was sentenced by New York City federal court to 27 months in prison, 2 years of supervised release and forfeiture of $900,000 for conspiring to commit insider trading and committing securities fraud.
Between August 2008 and January 2009, Kurland and co-conspirator Danielle Chiesi of New Castle Partners, conspired to use inside information from Advance Mirco Devices, Inc. Akamai Technologies, International Business Machines Corp. (IBM) and Sun Microsystems Inc. to direct New Castle’s trading.