SAC Fund Manager’s Tipper Nguyen Gets One Year in Prison
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An expert-networking consultant who leaked illegal tips to former SAC Capital Advisors LP fund manager Noah Freeman and other portfolio managers was sentenced to a year and a day in prison.
The term imposed yesterday for Tai Nguyen by U.S. District Judge Naomi Reice Buchwald in New York is almost four years shorter than the sentence sought by prosecutors, who argued that Nguyen corruptly used his sister, then an employee at Abaxis Inc., to give him nonpublic information which he then sold to fund managers including Freeman, Barai Capital Management LP founder Samir Barai and others from 2006 to mid-2009.