Details about the scheme carried out by law school friends Gil Cornblum and Stan Grmovsek are beginning to emerge following Grmovsek’s guilty pleas in Toronto and New York on Tuesday to a variety of fraud and insider trading charges. The allegations describe one of the most brazen insider trading operations in recent memory. The case also involves a tragic end for Cornblum, who as previously discussed here, killed himself on Monday as information about the scheme was about to be released.
Full details are available in this post on my Enforcement Action blog over at Compliance Week.
