Alleged Inside Trader Garrett Bauer Explains How To Get Rid Of $175,000 In Dirty Money: “Burn it”

joker debt burning fire

This morning prop trader Garrett Bauer and lawyer Matthew Kluger were arrested and charged with carrying out an insider trading scheme that netted the pair — and at least one other individual — $32 million in profits.

Apart from charges of securities fraud and money laundering, the pair have also been charged with obstruction of justice (think Donald Longueuil and the phone-smashing incident…)

According to the complaint against the duo, the men obstructed justice numerous times.

They are charged with trying to:

Corruptly obstruct, influence, and impede and attempt to obstruct, influence and impede, an official proceeding, namely, investigations of insider trading in the securities identified herein.

Read the panicked phone calls that lead them to obstruct justice below.

At one point, Bauer discussed with the unnamed colluder about how he’ll rationalize withdrawing such enormous amounts of cash from ATMs, if he’s nabbed by the feds:

I used that as spending money. I don’t know, I will say I bought prostitutes if it came down to it.

Bauer is accused of having destroyed a pre-paid phone after he learned that the FBI and IRS were investigating his alleged scheme. He also told an unnamed co-conspirator to “burn the approximately $175,000 in cash” which he’d provided to his alleged colluder “as a portion of the proceeds from the Zoran stock transaction.”

Matthew Kluger, after he became aware of the probe into his activities, destroyed a computer, an iPhone and a pre-paid cell phone. He also told the same alleged co-conspirator mentioned above,  to destroy the phone he or she used to call Kluger at home.

Here are the charges against them for obstruction of justice: 

obstruction crime

And here are the phone calls that explain why they obstructed justice:

Here’s the phone call in which Bauer instructs his friend to burn the cash:

obstruction crime

Here’s the phone call where Bauer admitted he bought and destroyed cell phones:

obstruction crime

Here’s the phone call where Kluger admits he destroyed evidence:

obstruction crime

And here’s the phone call during which Kluger tells his alleged colluder to destroy his cell phone:

obstruction crime

Now get to know Garrett Bauer a little better >

Now get to know Matthew Luger a little better >