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Financial Fraud Law

Big Firm Lawyer, Convicted of Insider Trading and Jailed, Is Now Disbarred in DC

 The fall of Matthew Kluger is now complete.

An attorney who worked over the years at some of the nation’s most prominent law firms – Cravath, Swaine & Moore; Skadden, Arps, Slate, Meagher & Flom; Fried, Frank, Harris, Shriver & Jacobson; and Wilson, Sonsini, Goodrich & Rosati – Kluger had engaged in a multimillion dollar insider trading fraud. He was convicted in federal district court in New York of obstruction of justice, in violation of 18 U.S.C. §1512 (c)(2); conspiracy to commit securities fraud, in violation of 18 U.S.C. §371; securities fraud, in violation of 15 U.S.C. §§78j (b) and 78ff (a); and conspiracy to commit money laundering, in violation of 18 U.S.C. §1956 (h).

As a result, Kluger was sentenced to a dozen years in prison – a sentence that was upheld by the U.S. Court of Appeals for the Third Circuit in a decision that stated, in part, that it was, “really quite remarkable that Kluger could not even wait to graduate from law school before using his employment at a law firm to initiate his illegal activities and it is equally remarkable that during most of his legal career he was involved in criminal activity.”

Earlier this year, Kluger was disbarred by New York.

Now, he has been disbarred in the District of Columbia.

The District of Columbia Court of Appeals decided that Kluger’s conviction for obstruction of justice under §1512 (c)(2) was a crime of moral turpitude per se, which required immediate disbarment.

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