Ex-Diamondback Manager Gets 4 1/2 Years in Insider Case
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Former Diamondback Capital Management LLC fund manager Todd Newman was sentenced to 4 1/2 years in prison for his role in an insider-trading scheme that used tips from technology company insiders to earn $72 million.
U.S. District Judge Richard Sullivan imposed the term today in Manhattan federal court and also ordered Newman, 48, to pay a $4 million fine for the proceeds the fund earned from the scheme.