Fairfax County General :
Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
McGruff - The Crime Dog!
()
Date: June 12, 2012 12:38PM
Oakton Inside Trader Receives Record Sentence
Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
By Nicole Trifone
June 6, 2012
http://oakton.patch.com/articles/oakton-inside-trader-receives-record-sentence
Matthew Kluger received a record 12-year prison sentence Monday for his part in an insider trading scheme that netted more than $37 million in illicit profits over 17 years, Reuters reports.
The Oakton resident's sentence, handed down by U.S. District Judge Katharine Hayden in Newark, N.J., is the longest ever for insider trading. Kluger, who worked for several prestigious firms as a mergers and acquisitions attorney throughout the scheme, pleaded guilty to conspiracy to commit securities fraud, securities fraud, conspiracy to commit money laundering and obstruction of justice in December.
Kluger, 51, had two coconspirators — Garrett D. Bauer, 44, of New York, and Kenneth Robinson, 46, of Long Beach, N.Y. — in the insider trading scheme, according to court documents. All three pleaded guilty. Bauer received a nine-year sentence and Robinson received 27 months.
"The severe sentences imposed today are a warning to anyone trying to game the financial markets for their own enrichment," New Jersey U.S. Attorney Paul Fishman said in a statement Monday.
An attorney representing Kluger told Reuters they would seek an appeal against the sentence.
The trio began the insider trading scheme in 1994. Documents say Kluger, an attorney with mergers and acquisitions firms, would disclose information available to him about corporate mergers to Robinson, who would pass the information to Bauer, a stock trader. Bauer would purchase the stocks for the three of them in his own trading account, then sell them once the deal was publicly announced.
Kluger worked for Cravath Swaine & Moore from 1994 until 1997; Skadden, Arps, Slate, Meagher & Flom from 1998 until 2001; and Wilson Sonsini Goodrich & Rosati from 2005 until 2011. Authorities believe Kluger participated in the insider trading scheme during his time at those three firms.
Attachments:
Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
By Nicole Trifone
June 6, 2012
http://oakton.patch.com/articles/oakton-inside-trader-receives-record-sentence
Matthew Kluger received a record 12-year prison sentence Monday for his part in an insider trading scheme that netted more than $37 million in illicit profits over 17 years, Reuters reports.
The Oakton resident's sentence, handed down by U.S. District Judge Katharine Hayden in Newark, N.J., is the longest ever for insider trading. Kluger, who worked for several prestigious firms as a mergers and acquisitions attorney throughout the scheme, pleaded guilty to conspiracy to commit securities fraud, securities fraud, conspiracy to commit money laundering and obstruction of justice in December.
Kluger, 51, had two coconspirators — Garrett D. Bauer, 44, of New York, and Kenneth Robinson, 46, of Long Beach, N.Y. — in the insider trading scheme, according to court documents. All three pleaded guilty. Bauer received a nine-year sentence and Robinson received 27 months.
"The severe sentences imposed today are a warning to anyone trying to game the financial markets for their own enrichment," New Jersey U.S. Attorney Paul Fishman said in a statement Monday.
An attorney representing Kluger told Reuters they would seek an appeal against the sentence.
The trio began the insider trading scheme in 1994. Documents say Kluger, an attorney with mergers and acquisitions firms, would disclose information available to him about corporate mergers to Robinson, who would pass the information to Bauer, a stock trader. Bauer would purchase the stocks for the three of them in his own trading account, then sell them once the deal was publicly announced.
Kluger worked for Cravath Swaine & Moore from 1994 until 1997; Skadden, Arps, Slate, Meagher & Flom from 1998 until 2001; and Wilson Sonsini Goodrich & Rosati from 2005 until 2011. Authorities believe Kluger participated in the insider trading scheme during his time at those three firms.
Attachments:
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
Big bubba
()
Date: June 12, 2012 01:50PM
Hopes I sees him. I is going to welcome him wit open arms. Yessar.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
sgfdzfgsdzgsdfg
()
Date: June 12, 2012 11:39PM
Apparently, he started this 17 year insider-trading scheme during law school...as an intern.
The story:
http://www.businessinsider.com/a-blow-by-blow-account-of-matthew-klugers-extensive-insider-trading-scheme-2012-6
http://online.wsj.com/article/SB10001424052748704101604576246500048582840.html?mod=googlenews_wsj
http://www.huffingtonpost.com/2012/06/05/matthew-kluger-insider-trading-record-sentence_n_1569693.html
The SEC complaint:
http://sec.gov/litigation/complaints/2011/comp21917.pdf
His house:
Value: http://www.zillow.com/homedetails/2118-Twin-Mill-Ln-Oakton-VA-22124/51766709_zpid/
Mapped: http://binged.it/LSgpO9
Virtual tour: http://www.homevisit.com/tour/legacy/mrisTour.asp?id=16295
...which he bought on 12/21/2005 for $945,000
His LinkedIn page:
http://www.linkedin.com/pub/matthew-kluger/6/55b/881
Google is a bitch...you sleazy fuck.
The story:
http://www.businessinsider.com/a-blow-by-blow-account-of-matthew-klugers-extensive-insider-trading-scheme-2012-6
http://online.wsj.com/article/SB10001424052748704101604576246500048582840.html?mod=googlenews_wsj
http://www.huffingtonpost.com/2012/06/05/matthew-kluger-insider-trading-record-sentence_n_1569693.html
The SEC complaint:
http://sec.gov/litigation/complaints/2011/comp21917.pdf
His house:
Value: http://www.zillow.com/homedetails/2118-Twin-Mill-Ln-Oakton-VA-22124/51766709_zpid/
Mapped: http://binged.it/LSgpO9
Virtual tour: http://www.homevisit.com/tour/legacy/mrisTour.asp?id=16295
...which he bought on 12/21/2005 for $945,000
His LinkedIn page:
http://www.linkedin.com/pub/matthew-kluger/6/55b/881
Google is a bitch...you sleazy fuck.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
homeisntthatimpressivee
()
Date: June 12, 2012 11:52PM
His house is nice but not that great considering how much he "allegedly" netted.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
B. Obama
()
Date: June 13, 2012 06:10AM
I sure hope this doesn't cut into the donations he'd be making towards my re-election campaign!
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
Mr. Insensitive
()
Date: June 13, 2012 08:46AM
sgfdzfgsdzgsdfg Wrote:
-------------------------------------------------------
> Apparently, he started this 17 year
> insider-trading scheme during law school...as an
> intern.
>
>
> The story:
>
> http://www.businessinsider.com/a-blow-by-blow-acco
> unt-of-matthew-klugers-extensive-insider-trading-s
> cheme-2012-6
>
> http://online.wsj.com/article/SB100014240527487041
> 01604576246500048582840.html?mod=googlenews_wsj
>
> http://www.huffingtonpost.com/2012/06/05/matthew-k
> luger-insider-trading-record-sentence_n_1569693.ht
> ml
>
>
>
> The SEC complaint:
>
> http://sec.gov/litigation/complaints/2011/comp2191
> 7.pdf
>
>
>
> His house:
>
> Value:
> http://www.zillow.com/homedetails/2118-Twin-Mill-L
> n-Oakton-VA-22124/51766709_zpid/
>
> Mapped: http://binged.it/LSgpO9
>
>
> Virtual tour:
> http://www.homevisit.com/tour/legacy/mrisTour.asp?
> id=16295
>
>
> ...which he bought on 12/21/2005 for $945,000
>
>
>
> His LinkedIn page:
>
> http://www.linkedin.com/pub/matthew-kluger/6/55b/8
> 81
>
>
>
> Google is a bitch...you sleazy fuck.
Sounds like he's a perfect candidate for the Republican nomination.
-------------------------------------------------------
> Apparently, he started this 17 year
> insider-trading scheme during law school...as an
> intern.
>
>
> The story:
>
> http://www.businessinsider.com/a-blow-by-blow-acco
> unt-of-matthew-klugers-extensive-insider-trading-s
> cheme-2012-6
>
> http://online.wsj.com/article/SB100014240527487041
> 01604576246500048582840.html?mod=googlenews_wsj
>
> http://www.huffingtonpost.com/2012/06/05/matthew-k
> luger-insider-trading-record-sentence_n_1569693.ht
> ml
>
>
>
> The SEC complaint:
>
> http://sec.gov/litigation/complaints/2011/comp2191
> 7.pdf
>
>
>
> His house:
>
> Value:
> http://www.zillow.com/homedetails/2118-Twin-Mill-L
> n-Oakton-VA-22124/51766709_zpid/
>
> Mapped: http://binged.it/LSgpO9
>
>
> Virtual tour:
> http://www.homevisit.com/tour/legacy/mrisTour.asp?
> id=16295
>
>
> ...which he bought on 12/21/2005 for $945,000
>
>
>
> His LinkedIn page:
>
> http://www.linkedin.com/pub/matthew-kluger/6/55b/8
> 81
>
>
>
> Google is a bitch...you sleazy fuck.
Sounds like he's a perfect candidate for the Republican nomination.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
rich white law
()
Date: June 13, 2012 08:52AM
37 million = 12 years
Some chump from the projects deals a bag of crack and get 20.
btw no way is this white guy doing his time in a regular prison. Probably go to some place where they do arts and crafts all day and watch CNBC at night.
Some chump from the projects deals a bag of crack and get 20.
btw no way is this white guy doing his time in a regular prison. Probably go to some place where they do arts and crafts all day and watch CNBC at night.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
Nancy P
()
Date: June 13, 2012 08:42PM
We need to get him out of prison quick - he's a sure vote for Obama!
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
Fact Checker
()
Date: June 13, 2012 08:43PM
90% of convicted felons prefer Democrat candidates. Which explain why dems are so anxious to restore voting rights for them.
Re: Oakton Inside Trader Matthew Kluger gets 12 years in prison, longest sentence ever for insider trading conviction.
Posted by:
dfxhdfhfghdfh
()
Date: June 14, 2012 11:09PM
rich white law Wrote:
-------------------------------------------------------
> 37 million = 12 years
>
> Some chump from the projects deals a bag of crack
> and get 20.
>
> btw no way is this white guy doing his time in a
> regular prison. Probably go to some place where
> they do arts and crafts all day and watch CNBC at
> night.
Let me guess, your SAT scores for reading comprehension left a little to be desired.
The trader in NY kept over 30 million of the profits...since he used his capital. The other two guys, including this scumbag Oakton lawyer, SPLIT the remaining 2 million...over the course of 17 years. Amortized, he pulled in an extra 50k a year, although the distribution was not linear.
-------------------------------------------------------
> 37 million = 12 years
>
> Some chump from the projects deals a bag of crack
> and get 20.
>
> btw no way is this white guy doing his time in a
> regular prison. Probably go to some place where
> they do arts and crafts all day and watch CNBC at
> night.
Let me guess, your SAT scores for reading comprehension left a little to be desired.
The trader in NY kept over 30 million of the profits...since he used his capital. The other two guys, including this scumbag Oakton lawyer, SPLIT the remaining 2 million...over the course of 17 years. Amortized, he pulled in an extra 50k a year, although the distribution was not linear.