By Emily Flitter
NEW YORK, Jan 9 (Reuters) - A former hedge fund consultant
who cooperated with the government's sprawling insider trading
probe was sentenced to two years probation on Wednesday by a
U.S. District Judge Jed Rakoff sentenced Wesley Wang in an
afternoon proceeding during which the judge said, "the extent of
Mr. Wang's cooperation goes beyond that of most cooperators."
Wang, who is required to continue to assist authorities as
part of his sentence, pled guilty in July to two counts of
conspiracy to commit securities fraud.
Prosecutors used testimony from Wang this past summer in the
insider trading trial of a former employer, money manager Doug
Whitman, who ran Whitman Capital in Menlo Park, California.
Whitman was convicted in August on securities fraud and
Prosecutors said Wang provided them with information on as
many as 20 people who may have been involved in improper
trading. Another person he named was Dipak Patel, a former
portfolio manager at Steven A. Cohen's $14 billion hedge fund
SAC Capital advisors.
Wang, who once worked for Patel at SAC, said he passed on
inside information to Patel about several technology companies,
according to a sentencing filed by prosecutors before the
"I am disappointed in myself and I am trying to contribute
back to my society," Wang said during the proceeding. Wang
currently lives in northern California.
Patel, who was Wang's former supervisor at SAC Capital,
recently surfaced in a letter federal prosecutors filed in
connection with Wednesday's sentencing. Patel, who left SAC
Capital in February 2011 and has not been charged with any
wrongdoing, could not be reached for comment.
An SAC Capital spokesman did not return a request for
The case is U.S. v. Wesley Wang, US District Court Southern
District of New York, 12-cr-00541.
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