Tip and Trade explained
Tip and Trade |
Author: | Mark Coakley |
Country: | Canada |
Language: | English |
Genre: | True crime |
Publisher: | ECW Press |
Pub Date: | April 2011 |
Pages: | 381 pp. |
Isbn: | 978-1-55022-986-8 |
Oclc: | 676725216 |
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
Notes and References
- News: Insider trading and suicide in Canada: A buddy story. Reuters. 2009-10-28.
- http://www.abajournal.com/news/article/ex-dorsey_partner_kills_himself_on_eve_of_insider_trading_deal Ex-Dorsey Partner Kills Himself on Eve of Insider Trading Deal
- https://www.pressreader.com/canada/national-post-latest-edition/20100108/282059093120884 PressReader - National Post (Latest Edition): 2010-01-08 - PRISON FOR INSIDE TRADER
- https://www.forbes.com/feeds/afx/2009/11/06/afx7096426.html Forbes.com, "Canada insider trader may face 39 months in prison," Nov. 6, 2009
- News: Schneider. Joe. Grmovsek to Get 39-Month Sentence. 18 June 2013. Bloomberg. Nov 6, 2009.
- News: Globe and Mail. Quick Reads. 2 August 2011. Toronto. The Globe and Mail. dead. https://web.archive.org/web/20120325224758/http://aol.theglobeandmail.com/servlet/ArticleNews/aolstory/TGAM/20110326/BOMINIS0326ATL. 25 March 2012.
- Web site: Rowe. Dan. Tip and Trade: How Two Lawyers Made Millions from Insider Trading. Quill and Quire. 2 August 2011. 2011-04-06.
- Web site: Penny. Damian. Insider trading can be so easy. Canadian Lawyer. 2 August 2011. dead. https://web.archive.org/web/20110928235236/http://www.canadianlawyermag.com/insider-trading-can-be-so-easy.html?print=1&tmpl=component. 28 September 2011.
- News: Stimpson. Mike. Insider trading a helluva a tale, if uneven in spots. Winnipeg Free Press. 2 August 2011. 2011-05-07.