A former partner at the law firm Fox Rothschild was sentenced on Friday to six months in prison for trading on inside information that a client at his law firm was about to announce a merger, prosecutors said.
Herbert Sudfeld, 64, was sentenced by U.S. District Judge Cynthia Rufe in Philadelphia after a federal jury in February found him guilty on charges of securities fraud and making a false statement.
He was also ordered to pay $77,000 in restitution, which his lawyer, Robert Welsh, said will be considered satisfied once Sudfeld pays $91,747 plus interest to the U.S. Securities and Exchange Commission in a related civil case.
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Herbert Sudfeld, 64, was sentenced by U.S. District Judge Cynthia Rufe in Philadelphia after a federal jury in February found him guilty on charges of securities fraud and making a false statement.
He was also ordered to pay $77,000 in restitution, which his lawyer, Robert Welsh, said will be considered satisfied once Sudfeld pays $91,747 plus interest to the U.S. Securities and Exchange Commission in a related civil case.
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