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Never Get Married It Makes You Stupid

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Former Morgan Stanley lawyer Randi Collatta and her husband Chris have been sentenced to four and three years of probation, respectively, including six months of home confinement which will likely be spent arguing whose idea it was to get involved in an insider trading ring on Wall Street for which they are being punished. The Collattas were among 13 people charged in March for participating in the $15 million scam, though the Bayport, N.Y. couple only made about $9,000 off of the scheme, prompting Judge Victor Marrero to say that they were at the “bottom of the food chain,” which has got to hurt. Ms. Collatta apparently “wept uncontrollably” after hearing that she “faces” disbarment. One wonders what she’ll do when she finds out that she’s “definitely” going to be disbarred. Depressed enough yet? Randi will also serve 60 days in prison on the weekends and evenings, a special provision she was given because her husband’s cancer and severe heart problems necessitate that she be able to provide medical insurance.
Ex-Morgan Insiders Get Home Time [New York Post]