- Associated Press - Saturday, October 1, 2016

TRENTON, N.J. (AP) - Federal prosecutors say the final defendant involved in a five-year insider trading scheme that yielded more than $5.6 million in net profits has been sentenced.

Vladimir Eydelman received a three-year sentence Friday. The former Colts Neck resident also must forfeit more than $1.2 million.

The 44-year-old Eydelman had pleaded guilty in September 2015 to conspiracy to commit securities and tender offer fraud, securities fraud and tender offer fraud.

Prosecutors say the scheme began in 2009.

They say Steven Metro, a former managing clerk for an international law firm, stole information from the company and gave it to Frank Tomayo, who wrote the security’s ticker symbol on paper or napkin. Tomayo would then meet with Eydelman, a broker who memorized the symbol.

Tamayo would then put the paper or napkin in his mouth and chew until it was destroyed.



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