Thomas Gerbasio, a former Philadelphia-based registered representative, was sentenced to one year and one day in prison for his role in helping hedge fund Beacon Rock Capital engage in tens of thousands of fraudulent market-timing trades, FINalternatives reports.

Gerbasio helped design a strategy to allow Portland, Ore.-based Beacon Rock to skirt market-timing and trading limits imposed by mutual funds. The hedge fund closed in 2003 and has since split and rechristened itself the Beacon Investment Group.