Community Corner
Skowron Sentenced to Five Years
The 42-year-old Yale- and Harvard-trained physician from Greenwich, pleaded guilty in September, to conspiracy to commit securities fraud and obstruct justice.
Dr. Joseph "Chip" Skowron, a Greenwich resident and a former manager of a hedge fund at FrontPoint Partners, was sentenced to five years in prison Friday for his role in an insider trading scheme.
As reported on , the 42-year-old Yale- and Harvard-trained physician in September pleaded guilty to conspiracy to commit securities fraud and obstruct justice.
Skowron admitted he traded stock in Human Genome Sciences Inc. after receiving nonpublic information from a French doctor who was involved in clinical drug trials for the biotech company. The doctor, Yves Benhamou, pleaded guilty in April to providing the tips in exchange for cash and a trip. Benhamou is reportedly scheduled to be sentenced in December.
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As per published reports, Skowron, as part of his plea deal, has agreed to forfeit $5 million to the United States and pay restitution of $5.96 million.
