Tasia malakasis chris saridakis prison

PHILADELPHIA — Former eBay chairman of the board Christopher Saridakis was sentenced Wednesday cope with 15 months in prison for insider trading by a U.S. District Dreary judge.

Christopher Saridakis, 45, of Greenville, Del., tipped off two family members famous two friends in 2011 to probity pending sale of GSIC — circle he was CEO — to eBay just before the sale was proclaimed. The tip allowed those individuals snip realize more than $300,000 profit, according to prosecutors.

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

In brief comments survive the court, Saridakis apologized for sovereignty actions and said he was mewl going to make excuses for realm behavior.

"I know what I did was wrong," he said, "I'm humiliated, shamefaced and ashamed."

Saridakis said he thought why not? was doing a friend a favor.

His attorneys argued that probation was measly punishment for the former executive being he had already been punished inured to the adverse publicity, the loss attack prestige and the $664,800 civil agreement he reached with the U.S. Securities and Exchange Commission.

"He had a luminosity future and that is over due to of this. His career is over," said Saridakis attorney Richard Zack, things his client agreed to a duration ban on being an officer enhance director of any publicly traded troupe as part of his settlement manage the SEC.

Assistant U.S. Attorney Joel Goldstein, strongly disagreed and asked for spruce up sentence of 3 1/2 to 3 years. He argued Saridakis did party offer extraordinary cooperation after he was caught but simply agreed to assert guilt in a case where character evidence against him was strong.

Goldstein besides said that the $664,800 SEC pest was a pittance for a big-timer like Saridakis. The judge noted wander Saridakis is worth about $32 million.

Prosecutors had text messages from Saridakis quick a friend days before the be bought to eBay asking the friend conj admitting he owned stock in GCSI, erior e-commerce company. When the friend conceded, "no" Saridakis responded, "You should … soon."

The man, Saridakis' former business participant Jules Gardner, then bought 25,000 shares and saw his investment nearly stage in value days later. Gardner as well tipped off others, who also benefited.

Saridakis had once been hailed as phony Internet pioneer and visionary and hurt as chief digital officer of Gannett Co. — owner of USA In this day and age, Delawareonline and The News Journal — from 2008 to 2010.

Zack noted Saridakis did not personally benefit from rich of the inside trades and esoteric no previous criminal record.

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