Apparently so.
We ask as this was mentioned by Matthew Kluger, the M&A lawyer charged on Wednesday with earning $32m through insider trading. Garrett Bauer, a trader, was also charged with using MNPI — material non-public information, in case you don’t speak the lingo — provided by Kluger to trade in advance of big deals stretching back to 1994.
Click to expand this extract of a recorded phone call between Kluger and “CC-1″ from the FBI’s complaint, wherein cell phones and canines are discussed:
We could explain the intricate details of the allegations but the FT does that here and besides, the SEC has provided this really helpful chart:
Alleged sophistication such as this would obviously require a good cover-up operation. And, via Dealbreaker, we see quite literally an alleged plan for money laundering (click to expand):
Once again we’re astonished by the imbecilic contents of insider trading complaints.
Serious point interlude: at $32m and counting of alleged illegal profits, this is one of the biggest insider trading charges in US history. And it’s the largest case involving a M&A lawyer that FT Alphaville can remember.
OK. Enough of that. And back to the alleged cover-up:
Related links:
SEC brings further charges against expert network employees – FT Alphaville
Insider trading investigations, continued – FT Alphaville