Ex-Morgan Stanley broker pleads guilty to insider trading scheme that involved swallowing of Post-It Notes
Vladamir Eydelman admitted to trading based on information stolen from law firm, Simpson Thacher & Bartlett between 2009 and 2013.
The 43-year-old met a middleman under the clock face in New York's Grand Central Station, where he would get a glance of ticker symbols written on a napkin or Post-It. The middleman would then eat the evidence.
Eydelman, who worked at Oppenheimer between 2001 and 2012, and then worked at Morgan Stanley from 2012 until 2014, was charged with insider trading March 2014 by the SEC. The scheme allegedly netted the 43-year-old about $5.6 million over five years.
The middleman, a mortgage broker known as Frank Tamayo, pleaded guilty in September 2014 - though the SEC decided Tamayo would not be fined due to his cooperation in the case.
A former managing clerk at Simpson Thatcher who was also complicit in the scheme, Steven Metro, is scheduled for trial February 8.
Read the full Bloomberg article here.