Tip and Trade is a 2011 true crime book by Canadian author Mark Coakley, that depicts an insider trading conspiracy involving Wall Street lawyer Gil Cornblum who had worked at Sullivan & Cromwell and was working at Dorsey & Whitney, and a former lawyer, Stan Grmovsek, who were found to have gained over $10 million in illegal profits over a 14-year span. The crime was detected in 2008. Cornblum committed suicide by jumping from a bridge as he was under investigation and shortly before he was to be arrested but before criminal charges were laid against him, one day before his alleged co-conspirator Grmovsek pled guilty.[1][2][3] Grmovsek pleaded guilty and was sentenced to 39 months in prison;[4] this was the longest term ever imposed for insider trading in Canada.[5]
Reception
Canada's national newspaper, The Globe and Mail, called Tip and Trade "riveting."[6] A review by Quill & Quire was negative, stating that "the reader gets the impression that Coakley himself barely cares about his subject."[7] Canadian Lawyer called it "compelling,"[8] and the Winnipeg Free Press called it "a helluva tale, if uneven in spots."[9]
External links
References
- Insider trading and suicide in Canada: A buddy story Reuters, 2009-10-28^
- Ex-Dorsey Partner Kills Himself on Eve of Insider Trading Deal^
- PressReader - National Post (Latest Edition): 2010-01-08 - PRISON FOR INSIDE TRADER^
- Forbes.com, "Canada insider trader may face 39 months in prison," Nov. 6, 2009^
- Joe Schneider. Grmovsek to Get 39-Month Sentence Bloomberg, Nov 6, 2009, retrieved 18 June 2013^
- Globe and Mail. Quick Reads The Globe and Mail, retrieved 2 August 2011^
- Dan Rowe. Tip and Trade: How Two Lawyers Made Millions from Insider Trading Quill and Quire, 2011-04-06, retrieved 2 August 2011^
- Damian Penny. Insider trading can be so easy Canadian Lawyer, retrieved 2 August 2011^
- Mike Stimpson. Insider trading a helluva a tale, if uneven in spots Winnipeg Free Press, 2011-05-07, retrieved 2 August 2011^
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