Remember these guys?
http://www.sec.gov/litigation/litreleases/2008/lr…
Ah, yes. The infamous Playmate Capital case, which ensnared the hapless Miss August 1994, Maria Checa. Just to refresh your mammary, er, memory, this was the case where Matthew Devlin, a broker at Lehman, "misappropriated" confidential information from his wife, a partner at the New York office of the Brunswick Group, an international PR firm.
Devlin then farmed out the inside dope to his buddies on the street, some of it even filtering down to said Playmate, and they all shared about $5 million in illicit profits. I know. Seems hardly worth the effort.
Anyway, the first of what will undoubtedly be many sentences in the case was handed down yesterday. Frederick Bowers, another former Lehman broker, was sentenced to 2,000 hours of community service and the disgorgement of $27,000:
http://www.todaysthv.com/news/natInt/story.aspx?s…
While I'm sure the 2,000 hours of community service is no big deal since his employer went tits up, the 27 grand has to hurt.
