College Tipster Who Sparked Sting Gets a Year for Own Crime (1)

A Los Angeles businessman whose tip ignited the biggest U.S. investigation ever into a college admissions scheme got a year in prison even after cooperating with prosecutors in an unrelated pump-and-dump securities case.

Morrie Tobin, who was sentenced on Wednesday in federal court in Boston, had asked the judge to spare him the eight to 10 years behind bars he could have gotten for securities fraud and sentence him instead to five years’ probation and a $4 million fine.

But U.S. District Judge Nathaniel Gorton noted that Tobin was involved in two pump-and-dump schemes that defrauded “innocent investors” of $15 ...