Investor Relations Guy Accused Of Insider Trading Ran Barefoot From The Media

Wall Street investor relations professional Michael Lucarelli was arrested at his home early Tuesday morning on insider trading allegations.

Lucarelli, the director of market intelligence at investor relations firm Lippert Heilshorn & Associates, was charged with 13 counts of insider trading, U.S. Attorney Preet Bharara said in a statement. He’s accused of buying and selling stocks from company press releases prepared for his firm’s clients. The alleged scheme netted him at least $US538,215.32 in ill-gotten gains, according to Bharara.

Lucarelli was photographed yesterday afternoon wearing a grey tank top, wrinkled khaki pants and brown leather flip-flops. He probably didn’t have much time to get dressed when he was arrested by the FBI.

Convicted insider trader James Fleishman wrote in his book “Inside Story” that the FBI also made his arrest early in the morning at his home. He wrote that they gave him a few minutes to put in his contact lenses, grab his diabetes medication and get dressed before they took him to the federal courthouse.

After Lucarelli posted bail yesterday, he ran from the media upon leaving the federal court building in lower Manhattan. He lost his flip-flops and continued to run barefoot down the sidewalk barefoot, photos from Reuters show.

Lucarelli checks to see if the coast is clear outside the 200 Worth Street entrance.

He then shields his face from the cameras.


Reuters/ Carlo Allegri

And then he’s off!


Reuters/ Carlo Allegri

He left his flip-flop behind…


Reuters/ Carlo Allegri

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