Wednesday, 20 August 2014
Last updated 4 hours ago
Feb 9 2012 | 3:50am ET
The man who has overseen the largest group of insider-trading cases in U.S. history is switching sides.
Christopher Garcia, who served as head of the securities fraud unit for the U.S. Attorney's Office in Manhattan for the last two years, is leaving tomorrow to join law firm Weil Gotshal & Manges. As a partner at the firm, Garcia will focus on white-collar defense and investigations.
He may wind up defending men and women very much like those he's helped put in prison. The Manhattan U.S. Attorney's Office has brought 63 insider-trading cases under Garcia, winning 56 convictions and guilty pleas, notably that of Galleon Group founder Raj Rajaratnam.
Garcia will make about $1.2 million per year for the next two years, much more than he made in the public sector. Garcia's services were highly sought-after; WilmerHale, Gibson Dunn & Crutcher and Zuckerman Spaeder also vied for him.
Garcia follows Rajaratnam prosecutor Jonathan Streeter, who joined Dechert last month, and Rajaratnam judge Richard Holwell, who left the federal bench this week to found a law firm with two former colleagues, in moving to the private sector this year.
Marc Berger, who has served as Garcia's deputy, is expected to succeed him at the securities fraud unit.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note