71-Year-Old Money Manager Told to Spend 20 Years Behind Bars

  • Stephen Walsh argued for prison term of no more than two years
  • Defense lawyer says sentence ensures Walsh will die in jail

Stephen Walsh, managing partner of WG Trading LP, leaves Federal court in New York, on Feb. 25, 2009.

Photographer: J.B. Nicholas/Bloomberg

A federal appeals court upheld the 20-year prison term for former WG Trading Co. money manager Stephen Walsh, rejecting a legal argument that would have spared the 71-year-old from likely dying in prison.

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