The FBI just arrested two more people for insider trading, according to NBC.
The names of the men are, according to NBC:
- Garrett Bauer, a trader for “various firms,” who cleared his trades through Goldman, was arrested for securities fraud
- Matthew Kluger, a Washington-DC based M&A lawyer, who allegedly started giving out inside information at law school at NYU, was also charged
More on Kluger
Kluger worked for Wilson Sonsini Goodrich & Rosati in Washington DC. His LinkedIn has been taken down, but we have captured a screen shot of it and posted it below. The first school Kluger went to was the Kent, Connecticut-based Kent School, a private boarding school.
The suspicion is that Kluger told *someone* (an unknown person at this point) who told Bauer about the mergers his law firm was working on. Kluger allegedly told Bauer that Sun would buy Oracle before the deal occurred, for example.
Kluger also stole information from the law firms Wilson Sonsini, as well as Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom, according to the Wall Street Journal.
Kluger’s Linkedin profile is below.
More on Bauer
Bauer is said to have traded on the information. Investigators believe they made more than $32 million over the years.
Bauer is apparently at the FBI offices in New Jersey, and he’ll be arraigned in federal court in Newark on the securities fraud charges.
Officials from the FBI and U.S. Attorney Paul Fishman will reveal more details “at a noon press conference,” according to the WSJ.
No word on whether or not these arrests are related to the “insider trading-gate” that hit in the fall.