143: Convicted of insider trading—from suburban life to prison life w/ Michael Kimelman

Aaron Fifield Podcast 0 Comments



You’re about to hear a first-hand account from someone who’s been on a wild ride through the U.S. justice system. My guest is Michael Kimelman; a former prop trader and hedge fund manager who was convicted (and served time) for insider trading…

You’ll hear about the series of events leading up to his arrest, details about the trial, revelations of a rogue judge and the dim reality of life while incarcerated.

If you get through this episode and you’re curious to know more, then you might be pleased to know Michael has also written a book—the title: Confessions of a Wall Street Insider: A Cautionary Tale of Rats, Feds and Banksters.

Topics of discussion:

  • Michael’s career change from M&A lawyer to aggressive speculation at renown proprietary firm, Datek Securities—and tales of the antics which took place.
  • A recollection of the moment FBI agents stormed Michael’s home in a predawn raid, and what stunned him the most when reading the criminal complaint.
  • Why Michael refused to take the plea deal offered to him, the clear government agenda, how the trial played out, his ultimate conviction and prison sentence.
  • Life behind bars; misconceptions about where white-collar criminals serve time, major flaws in the prison system and the shocking amount of corruption.

Michael Kimelman: Former prop trader and hedge fund manger, convicted of insider trading.

Links and resources mentioned:

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