Ex-SAC Analyst Wang Seeks Leniency for Cooperation
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Wesley Wang, a former analyst for SAC Capital Advisors LP’s Sigma Capital unit, will ask for probation and prosecutors will seek leniency at his sentencing for insider-trading crimes because he identified about 20 people who allegedly traded on illicit tips.
Wang, 39, who worked as a semiconductor analyst at Sigma Capital from 2002 to 2005, is set to be sentenced today in Manhattan federal court by U.S. District Judge Jed Rakoff. Wang faces as long as 10 years in prison for two counts of conspiracy under federal statutes.