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Hedge-fund head pleads guilty to insider trading

SAN FRANCISCO (MarketWatch)
Drew Brownstein, head of a Denver-based hedge fund, pleaded guilty to insider-trading charges, according to the Justice Department on Friday.
Brownstein traded on information about an acquisition of Mariner Energy Inc. by Apache Corp. , netting profits of $2.5 million for himself and the fund.
Brownstein faces a maximum sentence of 20 years in prison and a maximum fine of $5 million.
Posted by Unknown at domingo, octubre 23, 2011

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