Aug. 10 (Bloomberg) — Former A.T. Kearney Inc. partner Sherif Mityas was sentenced to three years of probation for trading on inside tips he learned while serving as a consultant to private-equity firm the Carlyle Group, according to a spokesman for federal prosecutors.
Mityas, who also previously served as president and chief executive officer for now-liquidated Movie Gallery Inc., was sentenced today at a hearing in Brooklyn, New York, federal court, according to Robert Nardoza, a spokesman for U.S. Attorney Loretta Lynch. He wasn't ordered to pay any financial penalties, Nardoza said in an e-mail.
The former consultant pleaded guilty in March to one count of securities fraud for making trades in the stock of vitamin maker NBTY Inc. based on nonpublic information. As a partner at Chicago-based A.T. Kearney, Mityas had learned Carlyle, a client, was planning to buy the vitamin company in 2010. The $3.8 billion deal was announced in July 2010.
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