Insider Trading Leader Is Sentenced
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NEW YORK—The ex-Goldman Sachs investment banking associate who was the brains behind the $6.7 million insider trading ring that involved employees from Quad/Graphics was sentenced to 57 months in prison.
Eugene Plotkin was one of two men who traded on secret tips from various sources, including BusinessWeek magazine copies stolen by two Quad employees, Juan Renteria and Nickolaus Shuster. Last December, Renteria pleaded guilty to conspiracy and insider trading charges. He has yet to be sentenced.
In all, six people involved in the ring have pleaded guilty, including Plotkin and accomplice David Pajcin. The scheme involved illegal trading on M&A news, including the Procter & Gamble-Gillette Co. deal.