Ira B Sokolow

U.S. District Judge John F. Keenan, who sentenced the former investment banker to a year and a day in prison, cut Sokolow's time to eight months because parole guidelines would have required the former merger specialist to serve his entire sentence "contrary to the original intent of the court." Sokolow, 32, a former vice president of mergers and acquisitions at Shearson Lehman Bros., pleaded guilty last September to one count each of securities fraud and tax evasion.

Last week's tentative settlement between Drexel Burnham Lambert Inc. and federal prosecutors marked a landmark development in a chain of Wall Street corruption prosecutions that has riveted public attention for 2 1/2 years.

Last week's tentative settlement between Drexel Burnham Lambert Inc. and federal prosecutors marked a landmark development in a chain of Wall Street corruption prosecutions that has riveted public attention for 2 1/2 years.

U.S. District Judge John F. Keenan, who sentenced the former investment banker to a year and a day in prison, cut Sokolow's time to eight months because parole guidelines would have required the former merger specialist to serve his entire sentence "contrary to the original intent of the court." Sokolow, 32, a former vice president of mergers and acquisitions at Shearson Lehman Bros., pleaded guilty last September to one count each of securities fraud and tax evasion.

Ira B. Sokolow, a former vice president of Shearson Lehman Bros. Inc., was sentenced to a year in prison today for his part in an insider trading scheme that netted millions in illegal profits for Dennis B. Levine, a former Drexel Burnham Lambert Inc. managing director. Sokolow, 32, pleaded guilty Sept. 4 to securities fraud and tax evasion. He received about $120,000 for tipping Levine to more than a dozen mergers that were still secret. Levine made $4 million on the tips.

Two former officials at leading Wall Street brokerage houses agreed to forfeit more than $3.5 million today after the Securities and Exchange Commission accused them of joining investment banker Dennis B. Levine in a massive insider-trading scheme. Robert M. Wilkis, until last month a 37-year-old first vice president at E. F. Hutton, and Ira B.

Following an emotional plea for leniency, former investment banker Ira B. Sokolow was sentenced Thursday to one year and a day in jail for passing stolen information to Dennis B. Levine, the central figure in the largest insider trading case ever prosecuted. Sokolow, who pleaded guilty on Sept. 4 to criminal securities fraud and tax evasion charges, also was sentenced to three years probation. He is the first defendant in the illicit trading scheme to be sentenced.

A Goldman, Sachs & Co. executive has resigned because of allegations of involvement in the Securities and Exchange Commission's widening probe of insider trading, the New York investment banking firm said Tuesday. David S. Brown, who had been a vice president in Goldman, Sachs' mortgage securities department, resigned July 3 after the SEC informed the firm that he was under investigation, Goldman, Sachs spokesman Edward G. Novotny said.

Fighting back tears, the only lawyer implicated so far in the Dennis B. Levine insider trading scandal was rebuked Friday by U.S. District Judge Robert Sweet as "a symbol of the sickness of our society" and then sentenced to a year and a day in prison. The lawyer, 32-year-old Ilan K. Reich, was also ordered to serve five years probation for helping Levine, the scheme's ringleader, make $742,819 in illegal stock profits.

Two former investment bankers pleaded guilty in federal court on Thursday to criminal fraud charges and admitted passing inside information about merger stocks to Dennis B. Levine, who is at the center of the largest insider trading case ever prosecuted. Ira B. Sokolow, 32, a former vice president at Shearson Lehman Bros., and David S. Brown, 31, a former vice president at Goldman, Sachs & Co.

A U.S. District Court judge here approved, after a week's delay, a $150,000 settlement of civil insider trading charges against Michael N. David, formerly a lawyer in the firm of Paul, Weiss, Rifkind, Wharton & Garrison. The Securities and Exchange Commission had charged David with having tipped off a circle of young friends and associates to impending corporate takeovers in which senior lawyers in his firm were involved.

A federal judge on Monday dealt a setback to corporate lawsuits that seek to hold Wall Street investment firms financially liable for illegal insider trading traceable to their employees or business associates. U.S. District Judge Ann C. Williams said she will dismiss FMC Corp.'s lawsuit against three major investment firms, former stock speculator Ivan F. Boesky and other Wall Street officials.