Trader and lawyer watched 'Wall Street' and made $32 million doing the same thing. News just broke.

ITRADE?

http://www.washingtonpost.com/business/economy/lawyer-charged-in-multimillion-dollar-insider-trading-scheme/2011/04/06/AFn6n9pC_story.html

During the same call, the government said, he talked about how he would explain his large cash withdrawals, saying: “I used that as spending money. I don’t know, I will say I bought prostitutes if it comes down to it.”

He has not logged in since Friday. I remember something about him working in Reston. That lawfirm used to have a Reston Office - and one Downtown.

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"...your suffering will be legendary even in Hell!"

The guy lived in a shithole for someone who stole $32 million.
His address is in the SEC federal complaint.

url on the complaint?

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"...your suffering will be legendary even in Hell!"

http://www.sec.gov/litigation/complaints/2011/comp21917.pdf


Meet Matthew Kluger: The Prep School Kid The FBI Just Arrested For Insider Trading
by Courtney Comstock Apr. 6, 2011, 9:47 AM
A senior associate at the law firm Wilson Sonsini Goodrich & Rosati, Matt Kluger, was just arrested for insider trading.
Kluger worked on huge M&A deals at the firm, and investigators suspect that he gave out tips that reaped one trader, Garrett Bauer, $32 million in profits.
The suspicion is that Kluger told *someone* (an unknown person at this point) who told Bauer about the mergers his law firm, Wilson Sonsini, was working on. He may have also stolen information from the law firms Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom, according to the Wall Street Journal.
One deal that investigators believe that Kluger gave inside information about was Sun's purchase of Oracle, according to CNBC. He is said to have started giving out insider tips about coming deals while he was a law student at NYU, according to CNBC.
Kluger didn't become a M&A lawyer until later in his career. The first school Kluger went to was the Kent, Connecticut-based Kent School, a private boarding school. He then went to Cornell, where he studied at the school of Hotel Administration. He graduated in 1984, which makes him around 47-years old.
Later, Kluger worked as the General Manager of a Toyota dealership in California. He graduated NYU law school in 2005.
Click here to see Kluger's profile on Linkedin.
From his info on the Wilson Sonsini Goodrich & Rosati website (it has since been taken down):
Matt Kluger is a senior associate in the firm's Washington, D.C., office.
Matt represented many clients in complex cross-border transactions, including the first-ever hostile tender offer in Chile and a simultaneous hostile exchange offer in the U.S.
Matt's clients have been acquirers, targets, financial advisors, and special committees, and he has worked on both negotiated and hostile transactions.
Prior to attending law school, Matt had a seven-year career in the automobile retail industry, culminating as general manager of a large-volume Toyota dealership in California. Prior to joining Wilson Sonsini Goodrich & Rosati, Matt was an associate at Cravath, Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom and associate general counsel at Asbury Automotive Group, Inc., a Fortune 500 automotive retailer.
His clients were:
CBS
Check Point Software Technologies
Computer Horizons
Ducati 
North America Inc.
Fiat S.p.A.
Huntsman Chemical Corporation
IBM
Johnson & Johnson
Kansas City Power & Light
Landry's Restaurants
Life RE
MovieFone
Nuance Communications
Phone.com
RiteAid 
Sun International Hotels
TechBooks
Texas Pacific Group
The AES Corporation
The Goodson Newspaper Group
Thomas Weisel Partners
Unilever
Vivendi SA

Pinhead the Cenobite Wrote:
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> He has not logged in since Friday. I remember
> something about him working in Reston. That
> lawfirm used to have a Reston Office - and one
> Downtown.


Itrade worked here: http://www.kschaeferlaw.com

Dude had a nice career.

Blew it by getting greedy.

According to the complaint, Kluger was the guy supplying all the insider information but only ever saw about $500,000 out of the total $31.7M in ill-gotten gains. Greedy and stupid.

Cornell hotelies as known for their low IQ, but sharp dressers.