{"id":1418,"date":"2014-03-19T12:56:21","date_gmt":"2014-03-19T12:56:21","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/03\/former_morgan_stanley_broker_a"},"modified":"2022-09-19T10:14:25","modified_gmt":"2022-09-19T15:14:25","slug":"former-morgan-stanley-broker-a","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-morgan-stanley-broker-a\/","title":{"rendered":"Former Morgan Stanley Broker and Two Others Allegedly Ran $5.6M Insider Trading Scam, Swallowed The Information"},"content":{"rendered":"

\t\t\t\tIn an alleged insider trading scam<\/a> that could have been ripped out of the plot of a movie, prosecutors are accusing three men of engaging in methods of spycraft, including eating the evidence, as they ran an insider trading racket that netted about $5.6 million. The information they used was purportedly obtained from Simpson Thacher & Bartlett, LLP, which is the premier mergers-and-acquisitions law practice in New York. The firm is known for its work involving mergers and acquisitions and private equity.<\/p>\n

Prosecutors say that Steven Metro, a managing clerk at the law firm, used his employer’s computer system to gather information about deals and other corporate developments involving clients. He then shared the information, which, according to The Wall Street Journal<\/em>, included data about Tyco International Ltd.’s intentions to purchase Brink’s Home Security Holdings Inc., as well as the Office Dept. Inc. Office Max Inc. merger, with an unnamed mortgage broker during coffee shop and bar meetings. That person then allegedly gave the info to broker Vladimir Eydelman, who until recently, was with Morgan Stanley (MS)<\/a> (and before that (Oppenheimer & Co. (OPY)<\/a>) Edylman, 42, then traded on the data.<\/p>\n

Metro and Eydelman were arrested this week and then released on $1 million bond. They face numerous criminal charges, including securities fraud. Meantime, the unnamed mortgage broker is working with prosecutors and is expected to consent to a plea deal.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In an alleged insider trading scam that could have been ripped out of the plot of a movie, prosecutors are accusing three men of engaging in methods of spycraft, including eating the evidence, as they ran an insider trading racket that netted about $5.6 million. The information they used was purportedly obtained from Simpson Thacher […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3811,3787,3786],"tags":[],"class_list":["post-1418","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-insider-trading","category-morgan-stanley","category-oppenheimer"],"yoast_head":"\nFormer Morgan Stanley Broker and Two Others Allegedly Ran $5.6M Insider Trading Scam, Swallowed The Information — Investor Lawyers Blog — March 19, 2014<\/title>\n<meta name=\"description\" content=\"In an alleged insider trading scam that could have been ripped out of the plot of a movie, prosecutors are accusing three men of engaging in methods of — March 19, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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