Matthew Kluger

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Matthew Kluger is a disbarred[1] lawyer serving a 12-year sentence in federal prison for insider trading. The Bureau of Prisons Inmate Information website states that his expected release date is November 14, 2022.[2] A graduate of the Hammonasset School, Cornell University, and NYU School of Law, Kluger is the son of Pulitzer Prize-winning writer Richard Kluger. Over 17 years, while a lawyer at the law firms Cravath, Swaine & Moore, Skadden, Arps, Slate, Meagher & Flom, Fried, Frank, Harris, Shriver & Jacobson, and Wilson Sonsini Goodrich & Rosati, he tipped the identity of planned corporate takeover targets, allowing confederates to reap millions in profits when the proposed takeovers were announced and the stock prices increased.[3] His sentence, which was reportedly the longest ever imposed after a guilty plea for insider trading, was affirmed by the U.S. Court of Appeals for the Third Circuit in 2013.[4] He explained in detail the nature of his conduct in a video interview.[5] In 2014, he gave an extensive interview with Fortune Magazine about the details of his life in prison.[6] His conduct was featured on an episode of the CNBC series American Greed.[7] A motion to vacate his sentence was denied in 2018.[8]

Personal life[edit]

Kluger is gay and has three children with a former boyfriend.[9][10] He is currently housed at RRM Pittsburgh (Residential Re-entry Management, i.e. a halfway house in the Pittsburgh area), Federal Bureau of Prisons inmate number 78142-083. His scheduled release date is November 14, 2022 when he will be 61 years of age.[11]

References[edit]

  1. ^ In re Matthew Kluger, District of Columbia Court of Appeals (Nov. 13, 2013)
  2. ^ Federal Inmate Locator
  3. ^ David Voreacos, How Wall Street Lawyer Turned Insider Trader Eluded FBI, Bloomberg Business, July 31, 2012
  4. ^ Walter Pavlo, Inside Trader Matthew Kluger's 12-Year Prison Term Affirmed, Forbes.com, July 9, 2013
  5. ^ Lawyer: How I Committed Insider Trading, Bloomberg Law, July 31, 2012
  6. ^ Daniel Roberts, Life Behind Bars: Matthew Kluger Reveals All, Fortune Magazine, July 7, 2014
  7. ^ Bruce Carton, American Greed: Breaking Down the Kluger-Bauer-Robinson Insider Trading Scheme, Compliance Week, July 9, 2014
  8. ^ Kluger v. United States, Civil Action No. 14-6236 (KSH) (D.N.J. Aug. 30, 2018)
  9. ^ "Prep School Kid's Dad Pays $500,000 Bail".
  10. ^ "Matt Kluger, Ex-Biglaw Associate Charged with Insider Trading, is a Gay Dad - and Once Sued Fried Frank over It". 8 April 2011.
  11. ^ "BOP: Federal Inmates by Name".