U.S. District Judge
Van Gilder, 45, had pleaded guilty to one count of illegal insider trading in connection with Kerkorian's investment. Delta Petroleum was run by Van Gilder's close friend,
Van Gilder acknowledged he traded on details of Kerkorian's investment that were provided to him by an unidentified, high-level Delta executive.
Delta Petroleum eventually went bankrupt and emerged as Par Petroleum. Parker resigned as CEO before the bankruptcy.
Van Gilder and Parker are co-defendants in a civil lawsuit filed by the
Van Gilder was CEO of a family-owned business,
Van Gilder said he bought 90 call options on Delta Petroleum stock on
Van Gilder had faced a prison term of up to 18 months.
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