Lankan guilty of insider trading

A Sri Lankan born former accounts manager at a semi-conductor company who pleaded guilty in the US government’s campaign against insider trading was sentenced to 18 months in prison on Thursday.

The convict had previously pleaded guilty in Manhattan federal Court to passing tips about Taiwan Semiconductor Manufacturing Co to Primary Global Research, a so-called ‘expert network’ that provides information to investors and hedge funds. He is the latest defendant to be sentenced as a result of crackdown by federal prosecutors on insider trading. Reuters