LawFuel.com – Preet Bharara, the United States Attorney for the Southern District of New York, announced that ALI FAR, a former employee of Galleon Group and founder/portfolio manager of Spherix Capital Partners, was sentenced today to one year of probation for his participation in multiple insider trading schemes during which he obtained, shared, and traded based on material, nonpublic information (“Inside Information”) stolen from several public companies.
FAR pled guilty in October 2009 to one count of conspiracy to commit securities fraud and one count of securities fraud pursuant to a cooperation agreement with the government. He was sentenced today in Manhattan federal court by U.S. District Judge Robert P. Patterson.
