Ex-Bear Stearns Broker Sentenced For Insider Trading


As reported by Reuters, Ken Okada, a former stockbroker with Bear Stearns, was sentenced on Tuesday to three years probation, a year of home confinement, and fined $300,000 for his role in an insider-trading scheme.

Okada was one of 13 people charged in 2007 in what authorities have called the most pervasive insider trading rings since the 1980s.

Okada used information from UBS AG research reports, before the reports were made public, to execute hundreds of trades totaling $17.5 million.