Former A.T. Kearney Inc. partner Sherif Mityas asked to be sentenced to only probation for trading on information he learned as a consultant to the Carlyle Group (CG) about the private equity firm’s 2010 purchase of vitamin maker NBTY Inc.
Mityas, who pleaded guilty in March to one count of securities fraud, filed a memorandum in Brooklyn, New York, federal court requesting that a judge impose a three-year term of probation. Federal guidelines point to a sentence of 10 to 16 months in prison, the filing said.
“Mr. Mityas’s history and characteristics along with the nature and circumstances of the offense paint a picture of a responsible, middle-aged family man whose mounting financial stressors led him to make this one foray into criminal conduct,” his attorney, Eric A. Chase, wrote in the memorandum.
Mityas realized a profit of $25,871 by trading on non- public information about the NBTY deal. He has agreed to forfeit that amount, the filing said.
The case is U.S. v. Mityas, 1:12-cr-00133, U.S. District Court for the Eastern District of New York(Brooklyn).
To contact the reporter on this story: Christie Smythe in New York at email@example.com
To contact the editor responsible for this story: Fred Strasser at firstname.lastname@example.org