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Ex-Investment Adviser Allen Asks for Probation in Fraud Case

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Aug. 15 (Bloomberg) -- Scott Allen, a former Mercer LLC investment adviser, is seeking a noncustodial term of probation or home confinement or both, saying he cooperated with the U.S. on several investigations.

Allen pleaded guilty in March to supplying nonpublic information to a friend in a $2.6 million insider-trading scheme involving drug-company acquisitions.

To contact the reporter on this story: Patricia Hurtado in New York at pathurtado@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net

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