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Ex-Barclays employee gets prison for insider trading scheme with plumber
January 11, 2017 / 9:11 PM / 10 months ago

Ex-Barclays employee gets prison for insider trading scheme with plumber

NEW YORK, Jan 11 (Reuters) - A former director at Barclays Plc was sentenced on Wednesday to five months in a U.S. prison for repeatedly tipping off a friend who worked as a plumber to impending mergers underway at the bank so that the friend could engage in insider trading.

Steven McClatchey, 58, was also ordered by U.S. District Judge Katherine Polk Failla to pay a $10,000 fine and jointly with the plumber forfeit $76,000 after pleading guilty in July to conspiracy and securities fraud charges. (Reporting by Nate Raymond in New York; Editing by Jonathan Oatis)

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