This is ridiculous. This guy needs to see some time behind bars. The rest of the felons are under 30 also. The story is below

April 11 (Bloomberg) — Federal prosecutors arrested two junior employees at Merrill Lynch & Co. and Goldman Sachs Group Inc. for running a $6.7 million insider trading scheme.

Stanislav Shpigelman, 23, an analyst with Merrill’s merger and acquisition division, gave secret information on about six pending takeovers to Eugene Plotkin, 26, an associate at Goldman’s fixed-income research unit, and former Goldman analyst David Pajcin, 29, according to a complaint by U.S. Attorney Michael J. Garcia unsealed today. Pajcin, previously arrested for insider trading, is cooperating with Garcia’s office.

The defendants netted $6.4 million from trading on the merger information. Plotkin and Pajcin also participated in a $340,000 operation in which they found out the names of stocks recommended by Business Week magazine before it was published, the complaint said.

The arrests are “one of the most extensive insider trader cases in this district in decades,” Garcia said at a press conference. Noting that the merger market is heating up and that there are “still some people out there motivated by greed” he said that “memories of the industry in some cases seem to be remarkably short.”

The M&A part of the scheme involved five deals announced in 2005 involving Merrill clients: Procter & Gamble Co. and Gillette Co.; Eon Labs Inc. and Novartis AG; Cinergy Corp. and Duke Energy Corp.; Adidas-Salomon AG and Reebok International Ltd.; and Quest Diagnostics Inc. and LabOne Inc. A sixth deal, in which Amgen Inc. sought to acquire Celgene Corp., was unsuccessful.

Pure Greed

Andrew Arena, a special agent at the Federal Bureau of Investigation, said at the press conference that at 1:45 a.m. on Feb. 21, 2005, a Merrill supervisor, whom he didn’t name, sent around a “congratulations team” e-mail about the Novartis/Eon deal, which was announced that day.

“Unbeknownst to that supervisor, Shpigelman had already passed along the playbook and the game plan,” Arena said. The defendants’ motion was “pure greed,” he said.

Juan Renteria, 20, an employee at Quad Graphics, a Hartford, Wisconsin, printing plant where Business Week was printed, was also arrested and charged with insider trading.

Renteria and another printing-plant employee, Nickolaus Shuster, 24, gave Plotkin and Pajcin “the names of stocks favorably mentioned in Business Week’s `Inside Wall Street’ column one trading day before the column was available to the public,” according to the complaint. About 20 stocks were involved, the government said. The defendants and others gained at least $340,000 from that scheme, the government said.