By Hank Gross

A kidney doctor with practices in Poughkeepsie, Newburgh, and Kingston was sentenced to federal prison for insider trading on Tuesday. Dr. Paul Feldman of Advanced Kidney Care was sentenced to six months in the Otisville Federal Correctional Facility for participating in a $4 million insider trading scheme.

Feldman’s relative and former Vassar Brothers Medical Center physician Slava “Stanley” Kaplan was one of eight others who federal prosecutors say profited illegally from a scheme involving a pharmaceutical company.

Kaplan, 45, of Hopewell Junction, was a pulmonologist at Vassar Brothers and was arrested last summer on securities fraud charges. The Hopewell Junction resident pled guilty in September and was sentenced to five months in federal prison for his role in January.

Feldman had worked as a nephrologist at Vassar Brothers with Kaplan when the crime occurred. Both were fired from their jobs.

The scheme centered on Alexion Pharmaceuticals Inc. and Joseph Dupont, an Alexion executive. Dupont illegally told a friend of the upcoming merger in which Alexion was buying Portola Pharmaceuticals. The friend passed the information along to Kaplan, who, along with Feldman and others, bought Axion shares when prices were low before the buyout sent stock prices skyrocketing.

In all, the insider information netted $4,040,596 for 10 people.