A Pennsylvania court handed has sentenced Thomas J. Gerbasio, a broker with a division of hedge fund Beacon Rock Capital of Portland, Ore., to serve one year and a day in jail.

It is one of only a handful of prison sentences that, to date, have been imposed on an asset management executive for their direct involvement in the market-timing scandal, the most high profile case being Bank of America broker Theodore Sihpol III, who then-New York Attorney General Eliot Spitzer scapegoated early on for processing trades for hedge fund Canary Capital. Canary and its founding principal Edward Stern.

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