Former Fidelity trader Thomas Connolly was sentenced to three years probation yesterday for $2.39 million worth of illegal options trades through the CBOE. Richard Callipari, who managed the options trades that Connolly handled for the nations No. 1 fund company, was also implicated.
Last year, Callipari was found guilty at trial of conspiracy, wire fraud and obstruction. While he only paid a fine of $7,500, he was sentenced to 2-1/2 years in prison, Reuters reports.