Ex-hedge fund manager sentenced to 2 years in prison

The founder of Whitman Capital tells the court: 'This has been the most painful and shaming experience of my life'

Friday 25 January 2013 at 08:53

A former California hedge fund manager was sentenced to two years in prison Thursday after he was convicted of insider-trading charges last summer for trading on corporate secrets about Google Inc. and other technology companies.

Doug Whitman, the founder of Whitman Capital, made almost $1 million based on the trades, according to federal prosecutors in Manhattan. He had testified in his own defense during the trial and denied trading on confidential tips, saying he refrained from trading if he thought he might have received inside information.