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DC. lawyer charged in multimillion-dollar insider trading scheme

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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 02:27 AM
Original message
DC. lawyer charged in multimillion-dollar insider trading scheme
Source: The Washington Post

By mid-March, as the government tells it, Matthew H. Kluger knew the FBI was closing in.

As a lawyer for three of the nations premier corporate law firms, most recently in the Washington office of Wilson Sonsini, he had allegedly stolen secrets that yielded tens of millions of dollars of insider trading profits. Now he was trying to eliminate the evidence.

(...)

On Wednesday, the government dispatched any notion that law firms are always bastions of probity and discretion, charging that since the mid-1990s Kluger had tapped into his firms computer networks to extract and trade on confidential information about deals involving such blue-chip companies as Oracle, Intel and Hewlett-Packard.

Along with financial crimes spanning 17 years, he and a New York trader named Garrett D. Bauer are accused of engaging in a panicked cover-up that they discussed at length in telephone conversations with a third, unnamed conspirator, the alleged middleman.

Read more: http://www.washingtonpost.com/business/economy/lawyer_c...
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Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 02:29 AM
Response to Original message
1. Someone give him Dick Cheney's cell.
That guy wrote the book on 'how to build a fire in your own office'. BRILLIANT!
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DCKit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 03:39 AM
Response to Original message
2. Not sure that I posted it before....
but either those guys were snorting coke, or taking a dump... either way, they didn't wash their hands. Ever.

This applies to ALL the top firms in DC.... I was there.
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LawnKorn Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 06:06 AM
Response to Original message
3. Criminal Republicans can't make enough money working, they have to cheat also
A corporate lawyer has the potential to get paid big bucks just being a lawyer. Kluger was even more greedy than that and followed the proven wealthy conservative path and cheated to steal even more money.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 06:22 AM
Response to Original message
4. One lawyer does something and WAPO and smears all law firms?
Lawyers all over the U.S., esp. NY and Delaware, are privy to insider info all the time and we rarely hear of them trading on it.

This is like smearing all hospitals beause one dr. committed a crime involving a patient --and we hear about doctors wronging patients more often than we hear about lawyers abusing inside info.

Fuck Hilzenwrath and WAPO's Republicon anti-lawyer propaganda and the elephant they rode in on.
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NuclearDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 06:51 AM
Response to Reply #4
5. Washington Post is a Republican publication?!
:spray:

The editorial page, sure, there's plenty of syndicated conservative columnists, but the majority of the investigative reporters seem to lean (somewhat) left.

As for Hilzenrath, the majority of his articles seem to be about SEC investigations into insider trading, so this sort of article is par for the course for him. I looked really hard to find 'anti-lawyer' propaganda in his past articles (hell, I'm having difficulty finding it in this one), but couldn't.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 07:03 AM
Response to Reply #5
6. Saying law firms are not principled as we may have thought when reporting on one guy is
Edited on Thu Apr-07-11 07:14 AM by No Elephants
fair comment?

I guess we disagree.

edited to add:

"On Wednesday, the government dispatched any notion that law firms are always bastions of probity and discretion, charging that since the mid-1990s Kluger had tapped into his firms computer networks to extract and trade on confidential information about deals involving such blue-chip companies as Oracle, Intel and Hewlett-Packard."

He cast aspersions on an entire profession--but that's just investigative journalism?

And, yes, WAPO is "is a Republican publication," as your own post states. My post never said every single WAPO reporter was a Republican.
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InkAddict Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 07:39 AM
Response to Reply #6
7. Don't take it personally, No Elephants, it's just business...hahaha
Really, what fine Repug rag and its stable does not yearn to present comic relief in their stories in the same way as the Bard of "First, we will kill all the lawyers" fame, William Shakespeare. IMHO, it's not entirely a bad idea...as long as it's done one at a time when a particular lawyer fails to protect the law and starts breaking them for his own benefit, which in this case I heartily endorse.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 08:00 AM
Response to Reply #7
8. I take very little seriously, let alone personally AND seriously.
Edited on Thu Apr-07-11 08:04 AM by No Elephants
You'd kill all lawyers, one at a time, because ONE lawyer broke a securities law? Geez, good thing it wasn't a violent crime.

Gee, I'll miss ACLU, Amnesty Internatiional, etc.


Only lawyers, or should we kill off members of every profession and career, one at a time, whenever one member commits a crime?

How about journalists who do Republicons work for them?


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