Two former day traders—Jamil Bouchareb and Daniel Corbin—were sentenced Dec. 9 in the U.S. District Court for the Southern District of New York to 30 months and six months in prison, respectively, after pleading guilty to participating in an insider trading scheme, U.S. Attorney Preet Bharara said (United States v. Bouchareb; United States v. Corbin).
Bouchareb pleaded guilty in May 2009 to one count of conspiracy to commit securities fraud and one count of securities fraud, and Corbin pleaded guilty to the same charges in May 2011.
Bharara said Bouchareb obtained material nonpublic information about six mergers ...
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