Getting your player ready...
A judge who sentenced H. Clayton Peterson on Tuesday to serve three months of home confinement for illegal insider trading said he might order him to pay a $400,000 fine.
U.S. District Judge Robert Patterson told attorneys in the case during Tuesday’s sentencing to submit arguments on the subject of the fine.
Peterson, 66, pleaded guilty to securities fraud and conspiracy after admitting he passed to his son confidential information from a pending merger while he was on the board of Mariner Energy. Peterson is former managing director of accounting firm Arthur Andersen’s Denver office.
His son, Drew Peterson, who traded on the information and netted about $60,000, will be sentenced early next year.
