Tip and Trade
{{Short description|Book by Mark Coakley}}
{{Infobox book
| name = Tip and Trade
| image = Tip and trade -- book cover.jpg
| caption =
| author = Mark Coakley
| illustrator =
| cover_artist =
| country = Canada
| language = English
| genre = True crime
| publisher = ECW Press
| pub_date = April 2011
| english_pub_date =
| media_type =
| pages =381 pp.
| isbn = 978-1-55022-986-8
| oclc = 676725216
| followed_by =
}}
Tip and Trade is a 2011 true crime book by Canadian author Mark Coakley, that depicts an insider trading conspiracy involving Wall Street lawyer Gil Cornblum who had worked at Sullivan & Cromwell and was working at Dorsey & Whitney, and a former lawyer, Stan Grmovsek, who were found to have gained over $10 million in illegal profits over a 14-year span. The crime was detected in 2008. Cornblum committed suicide by jumping from a bridge as he was under investigation and shortly before he was to be arrested but before criminal charges were laid against him, one day before his alleged co-conspirator Grmovsek pled guilty.{{Cite news | url=https://www.reuters.com/article/us-insider/insider-trading-and-suicide-in-canada-a-buddy-story-idUSTRE59R5M920091028 |title = Insider trading and suicide in Canada: A buddy story|newspaper = Reuters|date = 2009-10-28}}[http://www.abajournal.com/news/article/ex-dorsey_partner_kills_himself_on_eve_of_insider_trading_deal Ex-Dorsey Partner Kills Himself on Eve of Insider Trading Deal][https://www.pressreader.com/canada/national-post-latest-edition/20100108/282059093120884 PressReader - National Post (Latest Edition): 2010-01-08 - PRISON FOR INSIDE TRADER] Grmovsek pleaded guilty and was sentenced to 39 months in prison;[https://www.forbes.com/feeds/afx/2009/11/06/afx7096426.html Forbes.com, "Canada insider trader may face 39 months in prison," Nov. 6, 2009]{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}} this was the longest term ever imposed for insider trading in Canada.{{cite news|last=Schneider|first=Joe|title=Grmovsek to Get 39-Month Sentence|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3qaG1XIs0bI|accessdate=18 June 2013|newspaper=Bloomberg|date=Nov 6, 2009}}
Reception
Canada's national newspaper, The Globe and Mail, called Tip and Trade "riveting."{{cite news|last=Globe and Mail|title=Quick Reads|url=http://aol.theglobeandmail.com/servlet/ArticleNews/aolstory/TGAM/20110326/BOMINIS0326ATL|accessdate=2 August 2011|location=Toronto|work=The Globe and Mail|url-status=dead|archiveurl=https://web.archive.org/web/20120325224758/http://aol.theglobeandmail.com/servlet/ArticleNews/aolstory/TGAM/20110326/BOMINIS0326ATL|archivedate=25 March 2012}} A review by Quill & Quire was negative, stating that "the reader gets the impression that Coakley himself barely cares about his subject."{{cite web|last=Rowe|first=Dan|title=Tip and Trade: How Two Lawyers Made Millions from Insider Trading|url=http://www.quillandquire.com/reviews/review.cfm?review_id=7200|work=Quill and Quire|accessdate=2 August 2011|date=2011-04-06}} Canadian Lawyer called it "compelling,"{{cite web|last=Penny|first=Damian|title=Insider trading can be so easy|url=http://www.canadianlawyermag.com/insider-trading-can-be-so-easy.html?print=1&tmpl=component|work=Canadian Lawyer|accessdate=2 August 2011|url-status=dead|archiveurl=https://web.archive.org/web/20110928235236/http://www.canadianlawyermag.com/insider-trading-can-be-so-easy.html?print=1&tmpl=component|archivedate=28 September 2011}} and the Winnipeg Free Press called it "a helluva tale, if uneven in spots."{{cite news|last=Stimpson|first=Mike|title=Insider trading a helluva a tale, if uneven in spots|url=http://www.winnipegfreepress.com/arts-and-life/entertainment/books/121432334.html?device=mobile|newspaper=Winnipeg Free Press|accessdate=2 August 2011|date=2011-05-07}}
References
{{Reflist}}
External links
- [https://web.archive.org/web/20140813171141/http://www.ecwpress.com/books/tip-and-trade Publisher's website]
- [http://www.markcoakley.wordpress.com Author's website]
Category:2011 non-fiction books
Category:Books about stock traders