A tearful former IBM executive who has admitted that romance clouded his judgment was sentenced to six months in prison and ordered to pay a $50,000 fine Monday for his role in what prosecutors call the biggest hedge fund insider trading case in history. The sentence came in a case that resulted in charges against 21 defendants last fall. Authorities say profits from illegal trades topped $50 million, although Robert Moffat’s tips resulted in no profits and he received no money, lawyers on both sides agreed.

A judge’s order that defendants in a civil insider trading case turn over to the Securities and Exchange Commission wiretaps they obtained in discovery in their criminal case came under fire Thursday at the 2nd Circuit. A lawyer for Raj Rajaratnam and Danielle Chiesi, central figures in a wide-ranging insider trading prosecution that has already netted 11 guilty pleas, asked a three-judge panel to reverse New York federal Judge Jed Rakoff’s February order compelling production of the wiretaps.

Melissa Mahler, a former Nixon Peabody lawyer, has reached a financial settlement with the Securities and Exchange Commission to resolve the federal insider trading case filed against her last year. Under the terms of the settlement, Mahler does not have to admit or deny the allegations lodged against her in exchange for paying back the $5,800 she made off the illegal trade, interest on that amount and additional penalties.

Billionaire Manhattan hedge fund manager Raj Rajaratnam and another executive embroiled in a $52 million insider trading case were indicted Tuesday on multiple counts of conspiracy and securities fraud. Rajaratnam was arrested in October on a criminal complaint alleging he used inside information to make trades that generated millions of dollars in profits for a fund in his firm, the Galleon Group. The second person indicted in the case was Danielle Chiesi, a portfolio manager at New Castle Funds LLC.