A former Morgan Stanley broker-dealer got three years in prison after admitting to taking part in an insider-trading scheme centered around the large clock in the middle of New York City’s Grand Central Terminal, U.S. prosecutors said.
Vladimir Eydelman, 44, of Colts Neck, New Jersey, was the third person to be sentenced in the scheme. Prosecutors said he received tips on tender offers and mergers and acquisitions while standing at the clock from a middleman who would write relevant ticker symbols on paper or napkins and then swallow them after passing them on.
This article was provided by Bloomberg News.