On April 6, 2011, U.S. Attorney Paul Fishman announced the arrests of Matthew Kluger, 50, of Oakton, Va., and Garrett Bauer, 43, of New York as the Securities and Exchange Commission simultaneously disclosed its insider trading charges against the pair.
“The subjects in this case allegedly attempted to cover their tracks with tradecraft of which Gordon Gecko [sic] would have been proud, but in the end their downfall was similar; criminal activity has been exposed, professional reputations tarnished, and in the end their own financial assets are the ones placed at risk,” said Fishman, referring to the 1987 movie, Wall Street.
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