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Matthew Kluger Released on $1 Million Bond

04/19/11

Matthew Kluger Released on $1 Million Bond

Matthew Kluger Released on $1 Million Bond

Matthew Kluger, accused of gaining confidential information regarding a number of merger and acquisitions of more than a few Am Law 100 firms and then giving the information to insiders, was ordered released on $1 million bail last week. The information that was shared became part of an alleged insider trading scheme that resulted in close to $40 million in illegal profits. If Kluger is convicted of all charges, including money laundering, obstruction and insider trading, he faces up to 15 years in prison. Kuger has yet to enter a plea, according to the Associated Press but his attorney, Alan Zegas has said his client has made ''no indication of plans to plead guilty''.

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