NEW YORK (CBSNewYork/AP) — New York U.S. District Judge Sidney Stein came to court Wednesday determined to send a Massachusetts cooperator to prison for his inside trading conviction.
But the judge changed his mind after a prosecutor described the defendant’s key role in a historic prosecution.READ MORE: Got An Ant Problem? Expert Explains Reasons For Recent Surge And Offers Prevention Tips
Judge Stein instead ordered Steven Fortuna of Westwood, Mass., Wednesday to serve six months home confinement.
Stein said a prison sentence was appropriate and even necessary until he heard a prosecutor describe the extent of 50-year-old Fortuna’s cooperation in what prosecutors once called the biggest insider trading case in history.READ MORE: Connecticut Becomes 19th State To Legalize Recreational Marijuana
The judge noted that Fortuna’s cooperation helped the government convict a close friend of a corrupt billionaire hedge fund founder and a former top Intel Corp. executive. Both were sentenced to prison terms. More than two dozen people were convicted in the prosecution.
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