Broker Sentenced: Former Gruntal & Co. broker...
Broker Sentenced: Former Gruntal & Co. broker Robert Chestman of Long Island, N.Y., was sentenced to two years in prison for trading on inside information about the 1986 takeover of supermarket chain Waldbaum Inc. by the Great Atlantic & Pacific Tea Co. He was also ordered to repay about $250,000 in illegal profit. Chestman had been found guilty in March of 31 counts of securities and mail fraud and perjury. Chestman’s lawyer said his client would appeal.
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