See what's gonna happen to you, Frenchy: "Former Trader Gets 2-to-6 Years in Baridis Insider Trading Case
New York, Feb. 23 A former self-employed securities trader was sentenced to two-to-six years in prison for trading on inside information provided by a former Morgan Stanley Dean Witter & Co. compliance officer.
Vince Napolitano, 33, who operated a securities trading business out of a Manhattan apartment, was convicted in
November of fraud and conspiracy charges by a New York jury. Marisa Baridis, who shared confidential information
she got while working as a compliance officer at Morgan Stanley and Smith Barney Inc., now a unit of Citigroup Inc.,
testified for the prosecution at Napolitano's trial.
Assistant Manhattan District Attorney Adam Reeves asked Justice Edward McLaughlin to sentence Napolitano to
five-to-15 years, saying the defendant had 'adopted a persona as an organized crime figure' to try to intimidate
co-conspirators and persuade them not to testify against him.
Napolitano pleaded with the judge to sentence him to probation, saying he had two children at home and a pregnant
wife. The children's godfather testified that Napolitano was a good father.
McLaughlin, who sat silently for several minutes after hearing Napolitano's arguments, said the defense had presented
a compelling case for leniency. 'The insider trading concept is not the same as looting someone's brokerage
account...but his guilt is overwhelming,' the judge said.
In addition to the prison term, McLaughlin fined Napolitano $150,000. Reeves had asked for a fine of $441,124,
saying it was double the profit from Napolitano's illegal trades.
Baridis negotiated a plea bargain in 1997 with federal prosecutors to dispose of the charges against her. She was
sentenced in December to two years probation.
Another defendant who pleaded guilty to taking inside tips from Baridis, Robert Breed, was sentenced last year to
seven months in jail and a $5,000 fine. Breed had been a broker at First United Equities Inc.
Marc Nogid, a former Hampshire Securities broker who pleaded guilty to charges stemming from the Baridis case,
was sentenced last March to 250 hours of community service and a $5,000 fine. Jennifer D'Antoni, a former Duke &
Co. broker, pleaded guilty and received the same sentence as Nogid.
Four other defendants who pleaded guilty in related cases are scheduled to be sentenced by McLaughlin tomorrow.
Feb/23/2000 13:48
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