CNBC has learned from sources close to the case that stock trader Garrett Bauer is expected to plead guilty in Newark federal court on Thursday to his role in an insider trading scheme. In April, Bauer was charged with co-defendant Matthew Kluger in a 17 count criminal complaint. The complaint alleges the pair netted over $32 million dollars in illegal profits.
According to the complaint Kluger worked in the mergers and acquistions department of three major law firms and tipped a co-conspirator who in turn tipped Bauer on upcoming deals. Among the stocks they purchased were Sun Micro, 3Com and McAfee….
Find out more at http://www.cnbc.com/id/45593808
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