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Former Carlyle consultant requests probation for insider trading

25 Jul 2012

Sherif Mityas, the former A.T. Kearney management consultant who pleaded guilty for trading on information he learned as a consultant to global buyout giant Carlyle, has asked to be sentenced to only probation.

Mityas, who pleaded guilty in March to trading on information he learned about Carlyle’s 2010 acquisition of vitamin producer NBTY, filed a memorandum in Brooklyn, New York, federal court asking for a judge impose a three-year term of probation.

Federal guidelines point to a sentence of 10 to 16 months in prison, Bloomberg reported.

“Mr Mityas’s history and characteristics along with the nature and circumstances of the offense paint a picture of a responsible, middle-aged family man whose mounting financial stressors led him to make this one foray into criminal conduct,” Mityas’ attorney Eric Chase wrote in the memorandum.

Mityas made a $25,871 profit by trading on information he learned about the deal, all of which he has agreed to forfeit, the filing added.

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