Terren Peizer, protégé of Michael Milken, gets 3-1/2 years prison for insider trading

A protégé of former junk bond king Michael Milken was sentenced on Monday to 3-1/2 years in prison for insider trading at a healthcare company he once led, over his use of a trading plan designed to protect executives against that crime. Terren Peizer, 65, the founder and former chief executive of Ontrak, was sentenced by US District Judge Dale Fischer in Los Angeles. She also imposed a $5.25 million fine and forfeiture of more than $12.7 million of ill-gotten gains. Peizer plans to appeal, his lawyer David Willingham said....