Ex-Dorsey Partner Kills Himself on Eve of Insider Trading Deal
Posted Oct 27, 2009 05:03 pm CDT
A former Toronto partner of Dorsey & Whitney has killed himself, reportedly on the eve of a settlement in a criminal insider trading investigation.
Lawyer Gil Cornblum killed himself yesterday, according to stories in Bloomberg and the Toronto Globe and Mail. U.S. and Canadian officials had planned to announce a settlement of the insider trading probe as early as this week, according to the Globe and Mail.
Cornblum was under investigation for allegedly funneling information about pending mergers and acquisitions to law school classmate Stan Grmovsek, Bloomberg says. Dorsey & Whitney fired Cornblum last year after he was accused by the Ontario Securities Commission.
Grmovsek told Bloomberg that Cornblum had twice tried to commit suicide after he was charged. Cornblum’s wife, Marilyn, told the Globe and Mail that her husband’s death was the “culmination of a lifelong battle with severe depression.”
ABAJournal.com: “Lawyer Raided Sullivan & Cromwell Offices for Inside Info Years Ago, Court Filings Say”
Reuters: “Canadian pleads guilty to insider trading”
ABAJournal.com: “Dorsey & Whitney Fires Partner as Insider Trading Probe Continues”
Updated Oct. 29 to link to subsequent coverage.