(CN) - Jamil Bouchareb, Daniel Corbin and two of Corbin's companies will pay $1.2 million and go to prison to settle inside trading charges, the SEC said Wednesday.
A federal judge on Wednesday approved the final judgments against Bouchareb, Corbin, Corbin Investment Holdings, and Augustus Management, the SEC said in a statement.
Final judgment already has been ordered against Lehman Brothers employee Matthew Devlin, who misappropriated the inside information from his wife, a partner in a PR firm, the SEC said. Bouchareb and Corbin called Devlin's wife "the golden goose" because of the information they got from her husband.
Bouchareb and Corbin agreed to pay more than $1.2 million in disgorgement and interest, the SEC said.
Bouchareb was sentenced to 30 months in prison and Corbin to 6 months.
Four other defendants in the case have been ordered to pay more than $1.3 million.
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