Ex-Barclays employee was accused of insider information transmission beyond repair in the bathroom

A former Director of Barclays PLC Stephen Mcclatchie

A former Director of Barclays PLC Stephen Mcclatchie, who oversaw mergers and acquisitions, accused of transferring insider information to the plumber Gary Pusi, according to The Wall Street Journal. According to the newspaper, which refers to data of the Prosecutor’s office, Mcclatchie transmit information about transactions of a number of companies, including PetSmart, CVS Health, and Duke Energy. On the evening of 31 may 58-year-old banker was arrested. According to preliminary data, he provided information and advice to the plumber in exchange for fixing his bathroom and the money.

Barclays confirmed that Mcclatchie was their employee. For 7 years he worked at the Bank’s office in Manhattan, where he was responsible for the Bank’s involvement in potential mergers and acquisitions. Including his duties included the distribution to individual employees of Barclays material “M&A Global Weekly Business Update”, which contained recommendations.

According to government officials, the banker gave Pusi information about more than 10 mergers and acquisitions. According to the prosecution, in exchange, the plumber partially repaired free of charge him from the bathroom. According to the investigation, with this information, the partner, Pusi earned $76 thousand

He Piusi pleaded guilty and is now cooperating with the government, said the Prosecutor of Manhattan. Mcclatchie charged with conspiracy, fraud and securities fraud.

Barclays said that also works with the government and is investigating the incident. The defendants ‘ lawyers have not commented on the information.