An expert-networker sentenced to more than four years in prison for passing tips to hedge fund clients should pay a triple penalty in a civil case because of his “egregious” behavior, U.S. regulators said.
John Kinnucan, the expert-networker sentenced to four years and three months in prison for his role in passing inside tips to hedge-fund clients, refuses to settle an insider-trading lawsuit, the U.S. Securities and Exchange Commission said.
John Kinnucan, the expert-networker who refused to cooperate in a U.S. probe of insider trading before admitting to passing tips to hedge-fund clients, was sentenced to four years and three months in prison.
Ex-SanDisk Corp. executive Donald Barnetson pleaded guilty to passing nonpublic information to hedge fund consultant John Kinnucan in the U.S.’s five-year crackdown on insider trading by fund managers, expert-networking consultants and employees of publicly-traded companies.
John Kinnucan, the Broadband Research LLC founder who earlier refused to cooperate in an FBI probe of insider trading, admitted passing illegal tips on companies to hedge-fund clients and obstructing justice.
A former Flextronics International Ltd. executive, pleading guilty in a nationwide insider trading probe, admitted he passed inside information while working as a consultant to two expert networking firms.