UK dentist Neel Uberoi and his son, Matthew, were sentenced today to two years and one year, respectively, after being convicted at trial of insider trading.  As previously discussed here, on November 4, 2009, the FSA obtained just its second-ever criminal conviction for insider trading when both Uberois were found guilty on 12 counts. Matthew Uberoi had many seemingly far-fetched explanations for the circumstantial evidence against him and his father, but they apparently did not persuade the jury.

Today, Judge Peter Testar at London's Southwark Crown Court told the Uberois that what they were convicted of was "cheating, and it's important for the economic and social wellbeing of the community that there should be clean markets, and the public rightly recoils from the idea of people treating the possession of inside information as a licence to print money."