Remember my article a few months ago regarding the managing clerk at a highly regarded law firm who passed on insider tips to a stockbroker through an unnamed intermediary during clandestine meetings in the concourse at New York City’s Grand Central Station (if not, click here to access the article “SEC Charges Managing Clerk at a Major Law Firm and a Stockbroker with Insider Trading” in the March 17 to 21 and 24 edition of Bridging the Week)? Last week Frank Tamayo was revealed as the unnamed intermediary in the Securities and Exchange Commission’s previously filed action against Steven Metro—the law clerk—and Vladimir Eydelman—the stockbroker—and was named and sued by the SEC in a new civil action, and was the subject of separate criminal charges, both brought in a New Jersey federal court. As before, the SEC alleged that, on many occasions, Mr. Tamayo showed the stockbroker the symbol of the security that was the subject of the tip on a post-it note or napkin and then swallowed the paper to destroy evidence of the tip.
Totally Irrelevant (But Is It?): Seriously, the food court on the lower concourse of Grand Central Station actually has some food offerings tastier than paper.