Remember Annabel McClellan? She’s the wife of former Deloitte partner Arnold McClellan who sorta got wrapped up into an insider trading mess with her sister and brother-in-law last fall. Annabel is also a former Deloitte employee who gave up the glamorous life of a Salzberg solider to be a stay-at-home mom. Oh! and she was working on swingers app called My Nookie that was on the verge of taking the scene by storm. The whole insider trading thing put those ambitions on hold due to the fact that Annabel may be looking at some jail time and she settled civil charges with the SEC yesterday for $1 million. The good news for Arnie is that if judge gives the settlement the thumbs-up, he’ll be off the hook who, prosecutors say, had no clue that the Mrs. was engaging in extracurricular activities:
McClellan, who pleaded guilty in April to one count of obstructing the SEC’s investigation, said she overhead her husband talking about the deals and passed the information to her brother-in-law, according to a transcript of her change of plea hearing.[…] McClellan told prosecutors that her husband wasn’t aware of or involved in passing information, according to documents filed in the SEC case.
For those not in the know, San Francisco is already an overpriced third world toilet but Pacific Heights is the go-to for wanna-bes, socialities and trust fund babies who can afford the pricey rents and even pricier home values. According to earlier reports, Annabel McClellan fell in the “wanna-be” category, though we aren’t sure if the fact that her husband worked at the Deloitte had anything to do with that.
A Pacific Heights housewife will be heading to prison after pleading guilty Tuesday to insider trading and obstruction of justice charges.
In her plea agreement, Annabel McClellan says she gleaned confidential information about publicly traded companies by overhearing her husband, Arnold McClellan, then a partner at Deloitte Tax LLC, discussing details of deals he was working on. She then passed the information on to her sister, Miranda Sanders, and brother-in-law, James Sanders, who was involved in a trading business in London, according to the document.
James Sanders made money from the tips, including about £396,851 (about $648,000 at current exchange rates) from information about Getty Images, according to McClellan.
McClellan also says in the agreement that she obstructed justice by lying to the Securities and Exchange Commission about having obtained and passed on the information.
Both Arnold and Annabel McClellan had been named in a civil suit filed in November by the SEC, but Annabel alone faced U.S. criminal charges.
We’re not sure where this puts McClellan’s sex app – My Nookie – but we’re pretty sure she won’t be needing it behind bars; her only sex position in the years ahead will likely be Don’t Drop the Soap, or maybe Reverse Don’t Drop the Soap if she’s feeling particularly randy.
Meanwhile, let this serve as a lesson to partners: keep your trap shut in front of the Mrs., lest she act on anything she overhears you talking about and later get taken down by the authorities for sharing that information with the girlfriends and in-laws.
McClellan will be sentenced on September 20th. She faces a maximum prison sentence of five years and fines of up to $250,000. That’s 83,612 copies of My Nookie (priced at $2.99) if you are playing along at home.