SEC Charges Former Deloitte Partner and Wife in Overseas Insider Trading Scheme

SEC Charges Former Deloitte Partner and Wife in Overseas Insider Trading Scheme

FOR IMMEDIATE LAUNCH 2010-234

Washington, D.C., Nov. 30, 2010 — The Securities and Exchange Commission today charged an old Deloitte Tax LLP partner and repeatedly leaking confidential merger to his wife and purchase information to family relations offshore in a multi-million buck insider trading scheme.

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The SEC alleges that Arnold McClellan along with his spouse Annabel, whom are now living in San Francisco, offered advance notice of at the very least seven private purchases prepared by Deloitte’s consumers to Annabel’s sibling and brother-in-law in London. After getting the unlawful guidelines, the brother-in-law took monetary roles in U.S. organizations that have been goals of purchases by Arnold McClellan’s consumers. Their subsequent trades had been closely timed with phone calls between Annabel McClellan and her sibling, sufficient reason for in-person visits because of the McClellans. Continue reading SEC Charges Former Deloitte Partner and Wife in Overseas Insider Trading Scheme