11-01-2017 22:54 via news.yahoo.com

Ex-Barclays employee gets prison term for insider trading scheme

By Nate Raymond NEW YORK (Reuters) - A former director at Barclays Plc was sentenced on Wednesday to five months in a U.S. prison for repeatedly passing tips about mergers under way at the bank to a plumber, who made thousands of dollars trading ahead of the deals' announcements. Steven McClatchey, 58, was also ordered by U.S. District Judge Katherine Polk Failla in Manhattan to pay a $10,000 fine and jointly with the plumber forfeit $76,000 after pleading guilty in July to conspiracy and securi
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