Former hedge fund manager Joseph "Chip" Skowron III is facing up to five years in prison after pleading guilty in August to profiting from an insider trading scheme. Skowron, a former manager at Frontpoint Partners, admitted to prosecutors that a doctor overseeing a clinical drug trial illegally told him about the negative effects of an experimental Hepatitis C treatment. Skowron then used that information to help the funds he managed avoid losses of at least $30 million. The doctor, Yves Benhamou, pleaded guilty to his role in the crime in April. Skowron will be sentenced Nov. 18.
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio