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Thursday, November 30, 2006

Waltham man sentenced on insider-trading charges


A hedge fund manager was sentenced in federal court in Boston on insider-trading charges, the offices of US Attorney Michael J. Sullivan and the FBI said.

Michael K.C. Tom, 37, of Waltham, was sentenced by US District Judge Reginald C. Lindsay to three years of probation, with the first six months to be served in a community confinement facility, federal officials said.

The charges arose from Tom's trading of Citizens Bank common stock and options based on a tip from a Citizens employee about the then-pending merger with Charter One Financial, officials said.

-- Chris Reidy

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