NY judge: Home confinement in Arthur Andersen case
Wednesday, October 12, 2011
NEW YORK (AP) — A New York judge has ordered a former managing partner at the Arthur Andersen accounting firm to serve three months of home confinement after admitting he engaged in insider trading.
Federal Judge Robert Patterson on Wednesday praised the good deeds H. Clayton Peterson has done as he decided not to impose the yearlong prison sentence Peterson had agreed to during his guilty plea. The 65-year-old Denver man was awarded the Bronze Star for his service in Vietnam.
Attorney Steven Glaser had argued for leniency. He cited Peterson’s work on behalf of adopted children and efforts to help find employment for 600 Arthur Andersen employees who lost jobs when the Chicago-based company closed.
Peterson in August admitted he disclosed secrets about a pending acquisition of Mariner Energy Inc. by Apache Corp. in April 2010.