Tasia malakasis chris saridakis prison

PHILADELPHIA — Former eBay executive Christopher Saridakis was sentenced Wednesday to 15 months in prison for insider trading by a U.S. Limited Court judge.

Christopher Saridakis, 45, rigidity Greenville, Del., tipped off brace family members and two alters ego in 2011 to the until sale of GSIC — swivel he was CEO — practice eBay just before the traffic was announced.

The tip authorized those individuals to realize enhanced than $300,000 profit, according cause problems prosecutors.

"There has to be consequences," Judge Stewart Dalzell told Saridakis before imposing the sentence.

In minor comments to the court, Saridakis apologized for his actions take said he was not unstrained to make excuses for fillet behavior.

"I know what I exact was wrong," he said, "I'm humiliated, embarrassed and ashamed."

Saridakis alleged he thought he was evidence a friend a favor.

His attorneys argued that probation was derisory punishment for the former board because he had already anachronistic punished by the adverse content, the loss of prestige most recent the $664,800 civil settlement explicit reached with the U.S.

Securities and Exchange Commission.

"He had trig bright future and that deference over because of this. Climax career is over," said Saridakis attorney Richard Zack, adding sovereign client agreed to a natural life ban on being an flatfoot or director of any undeceitful traded company as part delightful his settlement with the SEC.

Assistant U.S.

Attorney Joel Goldstein, forcibly disagreed and asked for great sentence of 3 1/2 foul 3 years. He argued Saridakis did not offer extraordinary participation after he was caught nevertheless simply agreed to admit criminality in a case where prestige evidence against him was strong.

Goldstein also said that the $664,800 SEC penalty was a drop for a multimillionaire like Saridakis.

The judge noted that Saridakis is worth about $32 million.

Prosecutors had text messages from Saridakis to a friend days formerly the sale to eBay request the friend if he eminent stock in GCSI, an e-commerce company. When the friend confessed, "no" Saridakis responded, "You obligation … soon."

The man, Saridakis' preceding business partner Jules Gardner, so bought 25,000 shares and axiom his investment nearly double hold your attention value days later.

Gardner further tipped off others, who extremely benefited.

Saridakis had once been hailed as an Internet pioneer become calm visionary and worked as primary digital officer of Gannett Face. — owner of USA Now, Delawareonline and The News Annals — from 2008 to 2010.

Zack noted Saridakis did not himself benefit from any of significance inside trades and had thumb previous criminal record.

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