NEW YORK — Igor Poteroba, a former UBS investment banker who pleaded guilty to insider trading, was sentenced to 22 months in prison.
U.S. District Judge Paul A. Crotty in Manhattan also ordered Poteroba to pay a $25,000 fine and to serve three years of supervised release after his prison term. In December, Poteroba, 37, pleaded guilty to one count of conspiracy to commit securities fraud and three counts of securities fraud.
Poteroba agreed to forfeit the $465,000 in proceeds from his insider trading. Crotty said Monday that he would probably be deported to his native Russia.
The judge said the 22-month term includes the 12 months Poteroba already has spent in a federal jail awaiting sentencing.
Poteroba, who worked in UBS Securities' Global Healthcare Group in New York, was charged and arrested in March 2010 along with Alexei Koval, a Chicago man who allegedly traded on the information. Poteroba was accused of leaking tips about potential mergers and acquisitions involving six public companies to Koval and a third, unidentified person.
Koval pleaded guilty in January. His sentencing is scheduled for May 24.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
