Prison Justice
Visiting BigLaw lawyer will get jail sentence for insider buying and selling
A Brazilian lawyer has been sentenced to 2 months in jail for buying and selling on inside info 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 info 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 line with Reuters, Law360, Bloomberg Law and a Dec. 20 press release from the Department of Justice.
Costa, 33, of Rio de Janeiro, was additionally ordered to forfeit $42,649. He had earned greater than $200,000 per 12 months as a visiting lawyer, in line with Bloomberg Legislation.
Nichols stated he seen Costa’s conduct as “egregious,” in line with Bloomberg Legislation. The insider buying and selling wasn’t “spur of the second or reactive,” the Washington, D.C., federal choose stated.
Costa used his place on the legislation agency to entry confidential shopper information by conducting key phrase searches on the inner file administration system, prosecutors stated. Costa pleaded responsible to insider buying and selling in November.
Prosecutors had sought an eight-month jail sentence.
A Gibson Dunn spokesperson stated in August it had cooperated with prosecutors and terminated its relationship with Costa, in line with Reuters.
