French doctor Yves Benhamou was sentenced yesterday to time served and three years' supervised release after pleading guilty in an insider-trading case, reports Reuters. Benhamou pleaded guilty to securities fraud, making false statements to the US Federal Bureau of Investigation, and conspiracy for passing secrets about Human Genome Sciences' hepatitis C drug trials to Joseph Skowron, a hedge fund manager at FrontPoint Partners, Bloomberg adds. Benhamou was an advisor on the trial. In addition, he was ordered to pay nearly $6 million in restitution, Reuters adds.
"[Skowron] admitted that after Benhamou passed him the non-public information, FrontPoint sold its stock, avoiding $30 million in losses, according to the US," Boomberg says. Skowron was sentenced in November to five years in prison.