WHAT: Matthew H. Kluger, 50, who worked at three of the nation’s leading corporate law firms, was arrested for alleged involvement in a $100 million insider trading scheme based on his stolen confidential client information about pending mergers or acquisitions.
HOW: In the 1990s, Kluger allegedly discovered he could find valuable secrets in his employers’ computer networks. An unidentified middle-man passed the tips to New York trader Garrett Bauer, 43, who placed trades netting about $32 million since 2006 alone.
WHO: The illegal trading reportedly focused on mergers involving well-known companies such as Sun, Oracle, Adobe, Hewlett-Packard, McAfee and Intel. The alleged conspirators used disposable cell phones and exchanged cash in Atlantic City.