Tip and Trade

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Tip and Trade
Tip and trade -- book cover.jpg
Author Mark Coakley
Genre True crime
Publisher ECW Press
Publication date
April 2011
Pages381 pp.
ISBN 978-1-55022-986-8
OCLC 676725216

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. [1] [2] [3] Grmovsek pleaded guilty and was sentenced to 39 months in prison; [4] this was the longest term ever imposed for insider trading in Canada. [5]



Canada's national newspaper, The Globe and Mail , called Tip and Trade "riveting." [6] A review by Quill & Quire was negative, stating that "the reader gets the impression that Coakley himself barely cares about his subject." [7] Canadian Lawyer called it "compelling," [8] and the Winnipeg Free Press called it "a helluva tale, if uneven in spots." [9]

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  1. "Insider trading and suicide in Canada: A buddy story". Reuters. 2009-10-28.
  2. Ex-Dorsey Partner Kills Himself on Eve of Insider Trading Deal
  3. PressReader - National Post (Latest Edition): 2010-01-08 - PRISON FOR INSIDE TRADER
  4. Forbes.com, "Canada insider trader may face 39 months in prison," Nov. 6, 2009 [ dead link ]
  5. Schneider, Joe (Nov 6, 2009). "Grmovsek to Get 39-Month Sentence". Bloomberg. Retrieved 18 June 2013.
  6. Globe and Mail. "Quick Reads". The Globe and Mail. Toronto. Archived from the original on 25 March 2012. Retrieved 2 August 2011.
  7. Rowe, Dan (2011-04-06). "Tip and Trade: How Two Lawyers Made Millions from Insider Trading". Quill and Quire. Retrieved 2 August 2011.
  8. Penny, Damian. "Insider trading can be so easy". Canadian Lawyer. Archived from the original on 28 September 2011. Retrieved 2 August 2011.
  9. Stimpson, Mike (2011-05-07). "Insider trading a helluva a tale, if uneven in spots". Winnipeg Free Press. Retrieved 2 August 2011.