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Attorney convicted of insider trading automatically disbarred with guilty plea

Matthew Kluger was sentenced to a record 12 years in prison

It’s probably not surprising that insider trading would get you disbarred, but for convicted former attorney Matthew Kluger, the matter is now official. A New York state appeals court ruled on Thursday that Kluger was automatically disbarred in New York by pleading guilty to a $37 million insider trading scheme in December 2011.

Throughout his career at major law firms such as Cravath Swaine & Moore and Fried, Frank, Harris, Shriver & Jacobson, Kluger stole secrets about corporate mergers for his own profit, and that of two co-conspirators.

Kluger has bigger things to worry about than being disbarred, however. In June 2012, he was sentenced to a record 12 years in prison—a larger sentence even than the infamous Raj Rajaratnam received for the same offense.

Read more at Thomson Reuters.

 

For more InsideCounsel coverage of insider trading, see below:

Ex-brokers charged with insider trading on IBM deal

Former hedge fund manager charged in record insider-trading scheme

Former Deloitte partner gets 21 months in prison for insider trading

Rajat Gupta sentenced to 2 years for insider trading

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