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by Mike Caswell
Dimitry Braverman, the San Francisco law office technician who pleaded guilty to insider trading in eight companies, including a Toronto Stock Exchange listing, has received two years in jail. New York District Judge Paul Engelmayer handed down the sentence on Wednesday, July 29. In addition to the jail term, the judge ordered Mr. Braverman, 42, to serve two years of supervised release and to perform 100 hours of community service.
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The judge imposed the jail term despite pleas by Mr. Braverman to spare him a custodial sentence. He claimed to have suffered plenty already, having agreed to pay $520,433 to settle parallel civil claims brought by the U.S. Securities and Exchange Commission. (All figures are in U.S. dollars.) He also said that he had endured great public embarrassment, as his crime received coverage in the New York Times and Wall Street Journal. He asked for a combination of house arrest and community service.
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