Broker Gets 6 Months in Jail: A...

Broker Gets 6 Months in Jail: A former Merrill Lynch stockbroker was sentenced to six months in jail for trading on information contained in advance copies of Business Week magazine. William Dillon, who had worked in Merrill Lynch’s New London, Conn., office, had previously pleaded guilty in Manhattan federal court to one count of wire fraud. He was also ordered to pay $118,000 in restitution to the Securities and Exchange Commission and ordered to perform 200 hours of community service. U.S. District Judge John Walker said a jail term was necessary to “deter others who would cheat in the securities markets.”