Matthew Kluger, the attorney who’s accused of running a 17-year insider trading scheme that netted some $32.2 million on profit [Ed: That’s it?], is also a victim of anti-gay discrimination! Or so he claimed in a lawsuit against his old firm Fried Frank [Ed: Really?], which fired him before he slapped them with a discrimination suit saying he was unfairly treated for being a ‘mo with three kids and a partner (who he’s no longer with).
Kluger, who is 50 and from Virginia, spent time with at least five law firms — and federal prosecutors allege that’s where he got his secret M&A tips. He was arrested on 17 counts, Reuters reports, “including conspiring to trade on secrets stolen from Silicon Valley legal powerhouse Wilson Sonsini Goodrich Rosati, also had regularly leaked information he learned when he worked at two other prominent law firms, prosecutors said. … Kluger and a trader, Garrett D. Bauer, 43, were arrested on Wednesday and accused of reaping more than $32.2 million from trades on tips about upcoming mergers and acquisitions that Kluger learned as a lawyer at Wilson Sonsini. Prosecutors outlined a 17-year-long pattern of leaks that began in Atlantic City, New Jersey, and ended last month as the defendants frantically tried to cover their tracks — including talking with an unnamed co-conspirator about cleaning money in a washing machine or burning it.”
Heh. A washing machine? Really? That’s brilliant. But don’t forget, Kluger too was a victim!
Kluger sued law firm Fried, Frank, Harris, Shriver & Jacobson after he left in 2002, saying he was discriminated against there after senior partners learned he was gay. He contended he was instructed to find a new job after he took paternity leave to attend to his newborn twins, which were delivered through a surrogate mother. He was repeatedly told that partners were “no longer comfortable” working with him after they discovered his sexual orientation, his New York State Supreme Court lawsuit said. Both sides eventually agreed to discontinue the lawsuit, court records show.
The suit had Kluger seeking $10 million in damages, but it was settled in 2004 … for an amount that maybe is enough to put the kids, born to a surrogate, through college? Unless, you know, he has to turn it all over to the government.
How about we take this to the next level?
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Joe K
Well now we know why he only made 32 million over 17 years. It was obvious that he was fired for underperformance, as he could not even make a good swindle. He is not the brightest trader if he took muney laundering so literally.
Oprah
Rubbish.