A federal judge on Friday sentenced a former Charlotte-based Wells Fargo banker and three others for their role in an insider trading ring that netted the participants at least $11 million.
In the last of the four hearings, U.S. District Judge Robert Conrad sentenced John Femenia, who worked for Wells in Charlotte and New York, to five years in prison for his role in tipping off other defendants about impending deals.
Earlier, Conrad handed the longest sentence – 10 years in prison – to Shawn Hegedus, a high school friend of Femenia who acted on his tips and who fled to Cuba after the FBI first approached Femenia. Danielle Laurenti, Hegedus’ wife, was sentenced to the time she has served in prison – about 19 months – with prosecutors citing her cooperation in the case.
A fourth defendant, Matthew Musante, who prosecutors said also received tips from Femenia, received 3…
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