Matthew Kluger, a former lawyer who spearheaded a 17-year insider-trading scheme, must serve his 12- year prison term, the longest ever in such a case, an appeals court said in denying his bid for a new sentence.
Attorney Matthew Kluger, admitting to helping fuel an insider-trading scheme that prosecutors said generated $37 million in illegal profits, pleaded guilty to stealing corporate merger tips from four law firms.
Attorney Matthew Kluger was sentenced to a 12-year prison term that is the longest ever imposed for insider-trading, exceeding the 11-year sentence given Galleon Group LLC co-founder Raj Rajaratnam last year.
Attorney Matthew Kluger was sentenced to 12 years in prison for insider trading, the longest term ever imposed for that crime and one that exceeds the 11 years given last year to Galleon Group LLC co-founder Raj Rajaratnam.
Every dawn in the early spring of 2011, Matthew Kluger peered out his window, wondering when federal agents would knock at his door. Kluger, a mergers-and- acquisitions lawyer, says he worried that authorities were closing in on him as the source of illegal tips in a three-man insider-trading ring that had eluded detection for 17 years.
International rules adopted in Australia requiring thoroughbreds to physically mate to produce offspring eligible for racing are seen to illegally curb competition and a lawyer said they should be abolished.
The insider-trading conviction of Joseph Contorinis, an ex-Jefferies Paragon Fund money manager, was upheld by an appeals court in a ruling that may aid prosecutors as they defend the appeal of Galleon Group LLC co-founder Raj Rajaratnam.
Federal prosecutors said they were prepared to summon Goldman Sachs Group Inc. President Gary Cohn as a witness to rebut Galleon Group LLC co-founder Raj Rajaratnam’s defense in his insider-trading trial.
Switzerland said it expects to deliver account data on almost 4,450 UBS AG clients suspected by the U.S. of tax evasion, prompting the Internal Revenue Service to say it will drop a lawsuit against the bank within months.