January 6, 2010, Stanko Grmovsek was sentenced to three years and three months in prison for a profit estimated at U.S. $ 9 million over 14 years based on insider tips from his best friend from law school, Gil Cornblum. Grmovsek and Cornblum acted illegally insider trading scheme from 1994 until 2008. Using his role as a corporate lawyer in a variety of law firms, Cornblum was material non-public information related to 46 acquisitions in Grmovsek, which are then sold illegally using brokerage accounts located in the Bahamas and Ontario. October 27, 2009, Grmovsek pleaded guilty to all charges against him in Canada and the United States after a joint investigation by the U.S. Securities and Exchange Commission (SEC) and the Securities Commission of Ontario (OSC). "Hide
by Stephen R. Foerster, Michael R King, Fatma Sonmez Source: Richard Ivey School of Business Foundation 7 pages. Publication Date: September 11, 2012. Prod. #: W12191-PDF-ENG
Related Case Solutions & Analyses:
Energy Vending Inc.
Learning from Scandals: Responsibility of Professional Organizations
Morgan Components
Hydrochem Inc.
Activity Based Costing
Accounting Research
Banque Alpha (A)
Treasury Inflation-Protection Securities (TIPS)
Transforming Southcorp Ltd
Royal Bank of Canada: Creating Profitable Relations with Small Business Clients
