Watertown Man Gets 2 Years in Federal Prison for Insider Trading

A Boston-area real estate developer was sentenced to two years in federal prison and ordered to pay a $1 million fine after he was convicted earlier this year of engaging in insider trading for buying – and later selling – shares of Wainwright Bank & Trust Company (“Wainwright”) based on a tip that Wainwright would be acquired.  Prior to the acquisition, shares of Wainwright traded on the Nasdaq Stock Market.