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Schvitzing And Blintzing And Insider Trading, Oh My!

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Despite telling U.S. District Judge Kenneth Karas that he was “sorry” for leaking somewhat important information to Goldman Sachs employees Eugene “Dance like nobody’s watching” Plotkin and David Pajcin, former Merrill Lynch analyst Stanislave Shpigelman will soon be heading to the big house for three years and one month. Shpigelman admitted that while working in Merrill's M&A division, he took part in "a scheme that used gabby investment bankers and leaked copies of a market-moving magazine," facilitating others in making in excess of $6.7 million between October 2004 and August 2005. Impressively trumping the fact that the judge felt the need to note that he doled out the sentence with "a 'heavy heart' because Shpigelman had one of the nicest families he had ever known," is the fact that Shpigelman was recruited for the scheme by Plotkin and Pajcin "in a meeting at Club 88, a Manhattan day spa and Russian sauna," according to the S.E.C.
Ex-Analyst Gets Prison [Forbes]
Ex-Merrill Analyst Gets 37 Months in Insider Case [Bloomberg via Dealbook]
Earlier: Urban Grand Daddy