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Ex-Conn. hedge fund exec gets 4-plus years in jail

By Larry Neumeister
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NEW YORK (AP) — A former hedge fund manager at a Connecticut firm was sentenced to 4 1/2 years in prison Thursday for insider trading by a judge who said he could not understand how someone making $3 million to $4 million annually would get greedy.

Todd Newman, 48, of Needham, Mass., said nothing before U.S. District Judge Richard J. Sullivan announced the prison time, along with a $1 million fine and $738,000 in restitution.

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