Following up on my earlier post:  New York Law Journal, Former Paul Hastings Tax Associate Spared Prison for Insider Trading:

Former Paul Hastings tax associate Eric A. Holzer on Tuesday was spared a prison term for trading on inside information on two corporate transactions in 2005.

Southern District of New York Judge Victor A. Marrero ordered Holzer to spend nine months in a halfway house, on weekends if he chooses, although the guidelines range for his crimes, as well as the U.S. Department of Probation, called for a minimum of one year behind bars.

Holzer, 35, choked back sobs as he appealed to Marrero for leniency in sentencing him for single counts of securities fraud and conspiracy to commit securities fraud. …  The guidelines called for a sentencing range of between 12 and 18 months in prison, but Marrero said he agreed with the probation department's assessment that this was "a good person who made a terrible mistake."

See also ABA Journal.