A notorious Florida investor who feigned cooperation with
the government even as she initially told lies in one of the biggest insider
trading investigations was sentenced to a year in prison Thursday by a judge
who said that cooperators who lie must be punished, even if they eventually
provide substantial assistance.
Roomy Khan, 54, of Fort Lauderdale ,
Fla. , dabbed tears from her eyes during the
sentencing proceeding in U.S. District Court in Manhattan , where Judge Jed Rakoff credited
Khan with "huge cooperation" in a probe prosecutors have repeatedly
touted as the biggest hedge fund insider trading investigation in history.
He said, though, that he could not overlook the lies she
initially told investigators to protect friends before she told the truth. Her
cooperation played a role in enabling the largest use of wiretaps ever in an
insider trading investigation, along with the dozens of convictions that
followed….
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