Complinet logo
Search
Contact us

Insider-trading informant to forfeit $40,000, avoids prison

Feb 05 2013 Reuters

Karl Motey, a technology consultant who has been praised by the government for his help in insider-trading investigations, avoided prison time at his sentencing on Monday. U.S. District Judge Jed Rakoff in Manhattan ordered Motey to forfeit $40,000 and to serve a year of supervised release, for conspiracy and securities fraud. Rakoff called Motey "a particularly impressive cooperator." Motey, 48, recorded more than 400 conversations with more than 50 subjects of the government's wide-ranging insider trading probe, according to sentencing papers filed by his attorneys. He continues to help authorities with ongoing investigations, the Manhattan U.S. Attorney's office said in a separate sentencing memorandum. In 2005, the Wall Street Journal named Motey a top securities analyst in the semiconductor industry, and a year later he started the Coda Group research consulting company in Los Altos, California. Starting in 2007, he has admitted, he began relaying

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial