NEWARK, New Jersey (AP) — A former stock trader has been sentenced to nine years in prison for what prosecutors say was a 17-year long insider trading scheme that reaped more than $30 million.
Garrett Bauer was sentenced in federal court in Newark on Monday, shortly after co-conspirator Matthew Kluger, a former attorney, received a 12-year term.
A third member of the scheme, former mortgage broker Kenneth Robinson, faces sentencing this week.
The three admitted using information Kluger provided on pending company mergers to make approximately $37 million from the mid-1990s through 2011.
Bauer, a New York resident, pleaded guilty last year to counts including securities fraud and conspiracy.
- Crime & Justice
- Politics & Government