Former FrontPoint Partners hedge fund manager Dr Joseph "Chip" Skowron, one of the most prominent investors caught in a US crackdown on insider trading, was sentenced to five years in prison on Friday. Skowron, 42, pleaded guilty in August to trading in 2008 in stock of Human Genome Sciences Inc on non-public information he received from a French doctor who served as a consultant for the biotech company.
"You engaged in a pattern of deceit," US District Judge Denise Cote told Skowron in imposing sentence in a Manhattan courtroom filled with his family and friends. "You bribed and corrupted another physician." She also noted that his crimes included obstructing an investigation by the US Securities and Exchange Commission and other government investigations.
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