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PR exec convicted of insider trading

17/08/2007

ImediNews , July 12, 2007 OSLO, Norway.

A high-profile Norwegian public relations executive was sentenced Wednesday to the country's toughest jail term ever handed out in an insider-trading case.
Rune Brynhildsen, who also once ran Norway's leading private radio station, P4 Radio Hele Norge ASA, was sentenced in Oslo City Court to 10 months in jail. The judge also ordered him to pay more than $17,000 in court costs, Oslo's Aftenposten daily reported.
It was a stiff sentence by Norwegian standards, where the longest previous insider-trading term jail was six months, the newspaper said.
Brynhildsen's attorney said he would appeal the conviction.
Brynhildsen was found guilty of leaking information about three companies his firm was advising. He was also convicted of urging a friend to buy stock in a company before the public release of information that caused the stock price to rise.
Prosecutors had sought a jail term of two years and eight months for Brynhildsen, his friend Dag Eriksen and another person charged in the case, Aftenposten said.
http://www.imedinews.ge/en/news_read/51150
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