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Visiting BigLaw lawyer will get jail sentence…
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Visiting BigLaw lawyer will get jail sentence for insider buying and selling
December 21, 2023, 3:03 pm CST
A Brazilian lawyer has been sentenced to 2 months in jail for buying and selling on inside data that he obtained whereas working as a visiting lawyer at Gibson, Dunn & Crutcher in Washington, D.C. Picture from Shutterstock.
A Brazilian lawyer has been sentenced to 2 months in jail for buying and selling on inside data that he obtained whereas working as a visiting lawyer at Gibson, Dunn & Crutcher in Washington, D.C.
U.S. District Choose Carl J. Nichols of the District of Columbia sentenced visiting lawyer Romero Cabral Da Costa Neto on Wednesday, in response to Reuters, Law360, Bloomberg Legislation and a Dec. 20 press launch from the Division of Justice.
Costa, 33, of Rio de Janeiro, was additionally ordered to forfeit $42,649. He had earned greater than $200,000 per yr as a visiting lawyer, in response to Bloomberg Legislation.
Nichols mentioned he considered Costa’s conduct as “egregious,” in response to Bloomberg Legislation. The insider buying and selling wasn’t “spur of the second or reactive,” the Washington, D.C., federal choose mentioned.
Costa used his place on the legislation agency to entry confidential shopper recordsdata by conducting key phrase searches on the inner file administration system, prosecutors mentioned. Costa pleaded responsible to insider buying and selling in November.
Prosecutors had sought an eight-month jail sentence.
A Gibson Dunn spokesperson mentioned in August it had cooperated with prosecutors and terminated its relationship with Costa, in response to Reuters.
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