Former Lehman Bros. Salesman Sentenced to Probation in “Golden Goose” Insider Trading Case

golden egg230Frederick E. Bowers, a former Lehman Brothers salesman charged in the “Golden Goose” insider trading ring, was sentenced today to three years’ probation, 2,000 hours of community service, and a $15,000 fine.  Bowers and several others allegedly traded on stock tips gleaned from Nina Devlin, a PR executive who was the wife of Bowers’ colleague, Matthew Devlin.

As previously discussed here, Bowers pleaded guilty in May and faced up to 18 months in prison.  People trading on the tips reaped more than $4.8 million on illegal transactions from March 2004 to July 2008, the SEC said.

Read the Bloomberg article.