Scott Sacane, formerly of Durus Capital Management LLC, plead guilty in December 2005 to manipulating the stock price of two biotech companies by intentionally concealing purchases of shares through false filings with the SEC. Sentenced this week, Sacane will serve three years in prison and another three under supervised release.

Durus Capital's former chief operating officer, J. Douglas Schmidt was previously convicted on related charges and sentenced to a year's probation and a $10,000 fine.

-- MDT

Labels: Durus Capital Management, hedge fund, J Douglas Schmidt, Scott Sacane, stock manipulation