Grmovsek to Receive 39 Month Sentence for Insider Trading Scheme

flag_of_canadaStan Grmovsek, the former Canadian stock trader who worked with former Dorsey & Whitney law partner Gil Cornblum to make nearly $10 million through insider trading, will be sentenced to 39 months in jail by an Ontario court.

Bloomberg reports that today, an Ontario judge delayed imposing the sentence until January 7, after Grmovsek is sentenced on the same charges in the U.S.  Cornblum killed himself Oct. 27, a day before he was scheduled to plead guilty.

As previously discussed here, Grmovsek and Cornblum devised an elaborate scheme spanning over a decade that involved Cornblum “spelunking” through his law firm in the middle of the night for inside information and stray documents on coming deals.

Read the Bloomberg article