Ex-Lawyer Gets Stiff Penalty for Insider Trading

Former attorney Matthew Kluger was sentenced Monday to 12 years in prison for his role in a massive insider trading scheme that netted a combined total of more than $37 million and spanned nearly two decades. Prosecutors say the crimes were made possible in large part by his position as an associate with a series of Am Law 100 firms. In handing down what she acknowledged was a harsh sentence, U.S. District Judge Katharine Hayden in Newark said that Kluger's crime warranted such a stiff penalty because "it allows greedy, arrogant people to make money off others." The AmLaw Daily reports