Mark Kurland, a former partner with New Castle Funds LLC., a trading company, has been sentenced two years of imprisonment. He is the first one out of the 21 people who have been criminally charged for insider trading that has seen the involvement of top brass at the Wall Street.

The probe has been going on as part of the study being done to understand and rectify the processes that led to the financial meltdown in the US. In this many other traders are also being questioned.

This case involves a hedge-fund named Galleon. Its founder, Raj Rajaratnam is also allegedly involved in the activities.

Meanwhile, before being sentenced, Kurland pleaded guilty and is part of 11 member group that has gone for this step. It is said that Kurland did not give his co-operation to the prosecutors.

Kurland, who had asked for no jail terms, was given 27 months of imprisonment. This was followed by another two years of supervised release.

Besides this, the judge has also asked for the forfeiting of $900,000, which is allegedly earned out of the fraud.