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Stock impact report

Ex-Nuveen Trader Seeks Leniency for $47 Million Insider Scheme [BNN Bloomberg (Canada)]

Invesco Ltd (IVZ) 
Last invesco ltd earnings: 4/23 06:55 am Check Earnings Report
Company Research Source: BNN Bloomberg
Lawrence Billimek, who will be sentenced on May 20, faces as many as seven years in prison under federal guidelines. In a recommendation filed on Monday, Billimek's lawyers didn't suggest a specific term but simply asked US District Judge Paul Gardephe in Manhattan for the “most lenient sentence,” arguing the ex-trader had suffered enough by losing his career and reputation. Federal prosecutors will file their own recommendation before Billimek's sentencing and are likely to ask for more than six years in prison. Billimek, 53, pleaded guilty in November to passing tips about planned Nuveen stock purchases over a six-year period to retiree Alan Williams, who would then acquire the shares ahead of the asset management giant. Williams pleaded guilty two months before Billimek and is scheduled to be sentenced this fall. Financial Insecurity The case was one of the first in which the Securities and Exchange Commission's Consolidated Audit Trail — a controversial database tracking Show less Read more
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