Last week the FBI arrested and charged lawyer Matthew Luger and trader Garrett Bauer with conspiracy to commit securities fraud, securities fraud (aka insider trading), conspiracy to commit money laundering and obstruction of justice.
What’s amazing about the alleged scheme is that it is supposed to have gone on for decades.
That means that whatever you say about these guys — and one other person, known as the “middleman” — there’s one thing that’s undeniable: they were pretty good at covering their tracks.
The SEC alleges that the efforts the pair took to conceal their activities “demonstrate that Kluger and Bauer understood that their actions were illegal.”
The government detailed the key methods in their alleged conspiracy, and their decades-long insider trading scheme goes a little something like this.
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