A Chatham man was sentenced Tuesday to two years of supervised release for insider trading, according to the United States Attorney’s Office in Boston.

Gregory Manning, 61, will serve the first three months of his sentence in home detention. Manning has also been ordered to pay a $20,000 fine, according to a release.

In an email sent to the Times Wednesday, Caroline Ferguson, a public affairs specialist for the U.S. Attorney’s office, declined comment.

In January 2020, Manning was charged with one count of conspiracy to commit securities fraud and one count of securities fraud. He pleaded guilty in October 2023. Manning was charged along with co-defendants John Younis of Bristol, Rhode Island, and David Forte of Acton, according to the release.

How did Manning commit securities fraud?

Manning’s crimes revolve around a June 2016 purchase of 3,000 shares of Linear Technology Corporation stock, according to the U.S. Attorney’s office. The stock was obtained after Manning and Younis received a tip from Forte that Analog Devices, Inc., a Norwood-based semiconductor company, was purchasing Linear Technology, a semiconductor company based in Milpitas, California.

Forte, a former Needham police officer, discovered the acquisition through his brother, who was a senior executive at Analog Devices, according to the U.S. Attorney. Forte’s brother’s name wasn’t provided to the Times by the U.S. Attorney’s office. After the business deal was announced, Linear’s share price increased by 30%, according to the U.S. Attorney, and Younis and Manning sold their Linear securities for a profit. They later paid Forte a kickback for the stock tip.

Rachael Devaney writes about community and culture. Reach her at rdevaney@capecodonline.com. Follow her on Twitter: @RachaelDevaney

Get the Cape Cod news that matters delivered to your inbox. Sign up for our free newsletters.

This article originally appeared on Cape Cod Times: Insider trading charges lead to Chatham man’s 3-month home detention