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Summary: Another employee for Wilson Sonsini has been charged with illegal trading. He used the firm’s computer system to find information on mergers and acquisitions.
After a former Wilson, Sonsini, Goodrich & Rosati PC law firm employee admitted to making illegal trades eight months, he was sentenced to two years in prison by a Manhattan judge. Dimitry Braverman used the firm’s computer system to gain access to data that he used for trading purposes.
Braverman was a senior systems engineer at the Silicon Valley firm. He made the trades between 2010 and 2013 with knowledge about mergers and acquisitions that the law firm was counseling on. In 2011, another employee was arrested for insider-trading charges. The arrest of Matthew Kluger caused Braverman to stop his trading for a little over a year. Kluger pleaded guilty in 2012 and was sentenced to 12 years in prison.
When Braverman resumed his illegal trading, he did so under an account in a relative’s name in Russia. He is also to serve two years of supervised release plus 100 community service hours.
Braverman emigrated from Ukraine with his family and had been working at Wilson Sonsini for over 13 years. He made $304,000 off of the trading. He has been described as “a hard-working family man whose crimes came as a surprise to those who knew him.”
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He first got the idea in 2010 after hearing about the merger of client of Wilson Sonsini. He knew he could probably capitalize off it and started looking through the firms accounts to find other clients that were merging or acquisitioning.
Photo: dealbreaker.com
