• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2009 / March / 18 / Elliot Smith Sentenced to Two Years Probation for Obstructing SEC Probe

Elliot Smith Sentenced to Two Years Probation for Obstructing SEC Probe

By Securities Docket on March 18, 2009, 3:34 pm

Elliot Smith, a founding member of the Chicago Board Options Exchange, was sentenced today to two years probation for obstructing justice in an SEC insider trading investigation.  As previously discussed here, Smith pleaded guilty in December 2008 to the obstruction charge.

Smith, who is 76 years old, could have received up to five years in prison. Instead, U.S. District Judge George B. Daniels of the SDNY sentenced Smith to two years probation, with five months to be served as home confinement, as well as a fine of $30,000.

Dow Jones reports that prosecutors had alleged that Smith, who was a managing director at Broadband Capital Management LLC at the time, “provided the SEC with fake memorandums and exhibits in connection with the regulator’s probe into possible insider trading. He provided false testimony to the SEC on at least one occasion in 2004, prosecutors said.”

Read the Dow Jones article

Blog Widget by LinkWithin

Posted in Criminal | Tagged Insider Trading, Obstruction, Sentencing

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.