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Ilan Reich
Convicted Insider Trader; Attorney at Wachtell, Lipton, Rosen & Katz Who Betrayed Attorney-Client Privilege
Associate Attorney, Wachtell, Lipton, Rosen & Katz
Overview
Ilan Reich was an associate attorney at Wachtell, Lipton, Rosen & Katz, one of the most prestigious M&A law firms in the world, who betrayed attorney-client privilege by passing inside information about his firm's pending M&A deals to Dennis Levine. Reich was a member of Levine's insider trading ring and provided advance notice of major corporate transactions that Wachtell Lipton was advising on. His participation was deeply shocking to the legal profession because it demonstrated that the 1980s insider trading conspiracy had penetrated not just investment banks but Wall Street's top law firms. Reich pleaded guilty to insider trading conspiracy and was sentenced to one year and one day in federal prison.
Key Affiliations
Controversies & Concerns
Betrayed attorney-client privilege by passing inside M&A information from one of America's most prestigious law firms to Dennis Levine
His conviction demonstrated the corruption penetrated Wall Street's top law firms, not just banks
Deeply shocking to the legal profession; undermined trust in attorney-client confidentiality
Related Investigations (1)
Criminal Charges & Violations
2 documented violations
15 U.S.C. 78j(b), SEC Rule 10b-5Insider Trading Conspiracy: Passing material nonpublic M&A information from law firm clients to Dennis Levine(Federal)
Breach of fiduciary dutyViolation of attorney-client privilege by disclosing confidential client deal information for illegal trading(Federal)
Known Associates & Connections
Dennis Levine
Ringleader who recruited Reich into the insider trading ring
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
- Born
- Unknown
- Birthplace
- United States
Education
Key Timeline
1980-1986
Passes confidential M&A client information from Wachtell Lipton to Dennis Levine, betraying attorney-client privilege
1986
Pleads guilty to insider trading conspiracy
1987
Sentenced to 1 year and 1 day in federal prison