Ex-analyst gets 5 years in prison in NYC case

AP News
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Posted: Oct 16, 2014 4:48 PM

NEW YORK (AP) — A former analyst for a San Francisco-based investment adviser company has been sentenced in New York to five years in prison.

Matthew Teeple was sentenced Thursday by federal Judge Robert Patterson.

Teeple admitted in May to spreading secrets that caused more than $30 million in illicit profits or losses avoided.

The San Clemente, California, resident pleaded guilty to conspiring to commit insider trading. As part of his plea deal, he agreed to forfeit more than half a million dollars and not to seek a term of imprisonment other than the maximum five years for which the plea called.

Prosecutors called Teeple "prolific," saying that he sought, passed and used inside information from multiple sources repeatedly. They said he carried out the scheme from 2005 to 2009.