Former attorney Matthew Kluger was sentenced Monday in Newark to 12 years in prison for his role in a massive insider trading scheme that carried on for nearly two decades and was made possible in large part by his position as an associate with a series of Am Law 100 firms.
Prosecutors say the scheme netted a combined total of more than $37 million in illicit gains for the 51-year-old Klugerwho, based on federal sentencing guidelines, faced between 11 and 14 years in prisonand his two collaborators: former stock trader Garrett Bauer and mortgage broker Kenneth Robinson.
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