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The rise is at least partly driven by the bigger profits being earned through the illegal schemes, defense lawyers said. The trend is likely to continue on Monday when former SAC Capital Advisors manager Mathew Martoma is sentenced for what prosecutors have called the most lucrative insider trading case ever brought. In the five-year period ending December 2013, insider trading defendants received an average sentence of 17.3 months, up from 13.1 months during the previous five years, or a 31.8 percent increase, the analysis of 207 insider trading sentences shows. Cases that were reversed on appeal were excluded from the study. The number of cases has increased, with 57 percent of the sentences imposed in the past five years.
By David Greising, Karen Pierog and Tim Reid DETROIT Reuters) - Detroit’s plan to recover from bankruptcy includes several blueprints for a new future. Detroit is far short of the $1.7 billion it needs over the next 10 years to remove abandoned buildings, replace outdated technology and increase public safety to stem the exodus from the city. “What Detroit needed to start with was a reinvestment program,” said James Spiotto, managing director of Chapman Strategic Advisors, a municipal finance consultancy. “If you don’t solve the systemic problem and fix it for real, all you’re going to do is repeat it going forward.” Detroit’s 1,034-page plan for fixing the city’s finances will be the subject of a weeks-long bankruptcy court proceeding, beginning on Tuesday.