A broker-dealer has been sentenced to serve 36 months in prison for participating in a five-year insider trading scheme that relied on information stolen from an international law firm and yielded net profits of more than $5.6 million, U.S. Attorney Paul J. Fishman announced.
Vladimir Eydelman, 44, formerly of Colts Neck, previously pleaded guilty before U.S. District Judge Michael A. Shipp to an information charging him with one count of conspiracy to commit securities and tender offer fraud, one count of securities fraud and one count of tender offer fraud.
Shipp imposed the prison sentence on Eydelman in Trenton federal court on Sept. 30.
According to documents filed in the case and statements made in court, the crimes occurred from 2009 to 2013 and involved Eydelman and two other individuals who have also been sentenced to prison.
By exploiting the information that one of the co-conspirators had stolen from the law firm, Eydelman and his co-conspirators netted more than $5.6 million in illicit profits.
In addition to the prison term, Shipp sentenced Eydelman to three years of supervised release, fined him $15,000 and ordered him to forfeit $1,236,657.