Conn. Doctor Pleads Guilty in NYC Securities Case

Monday, 15 Aug 2011 12:40 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

NEW YORK — An Ivy League-trained doctor turned healthcare hedge fund manager has pleaded guilty in New York to a conspiracy charge for illegally evading $30 million in losses by obtaining inside information from a fellow doctor.

Joseph "Chip" Skowron III of Greenwich, Conn., entered the plea Monday to conspiring to commit securities fraud and obstructing justice. He's agreed to serve a five-year prison sentence.

Skowron oversaw six healthcare-related hedge funds when he worked at FrontPoint Partners LLC.

Authorities say he evaded millions of dollars in losses in 2007 and 2008 by paying a prominent French doctor for secrets on the progress of a liver disease drug.

Sentencing will be Nov. 18.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Conservative Station Rejects Surrogate Mother Company for Job Fair

Sunday, 20 Apr 2014 17:34 PM

A conservative radio station in Florida is banning a company that hires women to act as surrogate mothers from its upcom . . .

Cowboy Poet Waddie Mitchell Pens 'Call to All' on Nevada Ranch Standoff

Sunday, 20 Apr 2014 12:52 PM

A week after a tense standoff between gun-toting states' rights advocates and federal Bureau of Land Management police,  . . .

Boxer Rubin 'Hurricane' Carter Dies at 76

Sunday, 20 Apr 2014 11:26 AM

Rubin Hurricane Carter, the boxer whose wrongful murder conviction became an international symbol of racial injustice, . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved