Business

Ex-hedge fund analyst gets 5 years for insider trading

This “sharpie” is going behind bars.

Former hedge fund analyst Matthew Teeple was sentenced Thursday to five years in prison for his role in a $27 million insider-trading scheme.

Teeple admitted in May that he passed on an inside tip about Brocade Communications’ $3 billion acquisition of Foundry Networks, on which others traded.

He was also ordered to fork over a $100,000 fine and the $53,890 bonus he received for his successful — although illegal — trades that year.

The 42-year old disgraced moneyman and father of three wept in Manhattan federal court as he apologized for his actions ahead of his sentencing.

“I will never forgive myself for bringing on these challenges” to his family, he said.

About 20 friends and family members filled the court, including his pediatrician wife, Kathy, and his 66-year-old father.

Terry Teeple pleaded with the judge to consider his son’s civic leadership and charity work.

“To say he is remorseful is an understatement,” he said. “Certain stances do not always define a man.”

Judge James C. Frances IV was unmoved by their pleas.

“The trouble is, that was a separate life,” said Frances, who handed down a sentence that was a broad rebuke of a culture of cheating on Wall Street.

“Everyone was in on it, and they weren’t being punished,” the judge said. “You should have gotten a degree in psychology, a different kind of business, because these people are sharpies.”

When he pleaded guilty in March, Teeple was the 85th person charged by Manhattan US Attorney Preet Bharara in a major crackdown on insider trading.

Teeple conspired with David Riley, Foundry’s former chief information officer. He told Teeple that Brocade was acquiring Foundry, and asked him to trade on that information.

Riley was found guilty of two counts of securities fraud and one count of conspiracy earlier this month.