Wednesday, April 6, 2011
This from NBC News:
The FBI has arrested a banker and a Washington, D.C., attorney on insider trading charges, law enforcement officials said.
Garrett Bauer was arrested Wednesday morning and was taken to the FBI offices in New Jersey. He is expected to be arraigned in federal court in Newark on the securities fraud charges.
Officials said for years, attorney Kluger revealed information about mergers his prominent law firm, Wilson, Sonsini, Goodnick and Rosato, was working on and they said Bauer was able to trade on that information.
Investigators said they believe more than $30 million in illegal profits were made over the years.
This arrest comes as some Justice Department officials have called insider trading on Wall Street "rampant."
According to Reuters, authorities are describing this as a "decades long scheme." Goodness.
From the wiretaps...
Hmm. Seems like a clever fellow...