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 This material may not be published, broadcast, rewritten or redistributed.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
Please review Community Guidelines before posting a comment.
>> 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

New York Police Chokehold Death Ruled a Homicide

Friday, 01 Aug 2014 17:22 PM

A chokehold used by a police officer on a New York City man during his arrest for selling untaxed, loose cigarettes last . . .

Newsmax Panel Debates Battle Over Immigration

Friday, 01 Aug 2014 16:56 PM

Janet Johnson, an attorney in Jacksonville, Fla., and lawyer and syndicated talk show host Adam Thompson join "The Steve . . .

Bob Dole: Fixing 'Badly Bent' Congress Will Take Strong Leadership

Friday, 01 Aug 2014 16:13 PM

"The Senate isn't broken," former Republican Majority Leader and GOP presidential candidate Bob Dole believes, but "it's . . .

Most Commented

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