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Katonah Man Arrested in Alleged Stock Fraud

A Katonah man is one of two men arrested in what the New York Post called "an insider-trading scheme that at times read like pulp fiction — with illegal tips swapped under the clock at Grand Central Terminal and chewing on pieces of paper evidence to destroy them."

Steven Metro, 40, the managing clerk at a Manhattan law firm, passed information through a friend to broker Vladimir Eydelman, 42, of Colts Neck, NJ, according to news reports.

They were arrested by FBI agents March 19.

Metro is on leave from Simpson Thacher. Eydelman was fired by Morgan Stanley March 21, the Post reported. 

The alleged stock fraud netted $5.6 million; Eydelman and Metro each face 25 years in prison.

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