Former Swinging Salzberg Soldier Sentenced to 11 Months in Prison For Insider Trading
Former Salzberg Soldier and San Francisco housewife Annabel McClellan – who we know as the wife of former Deloitte tax partner Arnold McClellan – was sentenced in federal court yesterday to 11 months in prison for lying to a regulatory agency about slipping insider trading tips to her sister and brother-in-law. McClellan pleaded guilty in April to one count of obstructing and due administration of the law after she made false statements to SEC investigators in 2009.
U.S. District Judge William Alsup handed down the sentence. In her plea, McClellan admitted to eavesdropping on hubby’s conversations about corporate transactions and lying under oath to SEC investigators. Prosecutors guesstimate that McClellan’s naughty behavior defrauded British investors of about $3.05 million.
We are unclear at this time if Annabel will resume her business ventures – like the My Nookie app – upon her release from prison. She should certainly have some experience sistering up with strangers by that point, which can only help her swinger aspirations, unless her soon-to-be prison girlfriend insists on monogamy.
San Francisco housewife sentenced for obstructing insider trading probe [SJ Mercury News]
Former Deloitte Employee Swings to Settlement with SEC Over Insider Trading Charges
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.
Of course, if Arnie wasn’t aware that Annabel was trading under his nose, it makes you wonder with whom she was researching Amazon Squat and the Foldover.
Wife of former Deloitte partner to pay $1 million [Bloomberg]
Insider Trading Charges Throw a Wrench into Former Deloitte Employee’s Plans for Sexy Mobile App
[caption id="attachment_22306" align="alignright" width="260" caption="Drew Altizer Photography via The Bay Citizen"]
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Having a nice Friday evening, Going Concern faithful? Wonderful. Ordinarily, we would leave you to your weekend activities but something came to our attention that simply couldn’t wait.
Earlier in the week, we told you ��������������������, the former Deloittians who were charged with insider trading by the SEC. Arnold and Annabel were giving tips to Annabel’s sister, Miranda Sanders, and her husband, James, who traded on the information. The SEC alleges that the scam amounted to approximately $23 million in gains for everyone involved.
For all intents and purposes, Arnold McClellan probably was your run-of-the-mill tax partner at Deloitte until he opted to use his insider knowledge to make some money for himself and his in-laws. Likewise, you might expect that Annabel was just a humdrum Deloitte employee who landed a partner (he’s 13 years her senior) who got involved in a insider trading scam. But someone sent us a link to a report in the Bay Citizen that informs us that she had a very interesting venture in the works.
You see, Annabel left the firm (exactly when, is unclear) after working in the London, San Jose and San Francisco offices and presumably was ready to be a stay-at-home mom. When that became monotonous, she and a friend figured they would take their interest in knockin’ boots to launch a mobile app called “My Nookie.”
The website for the app has been taken down but the Bay Citizen was able to get a lot of the details:
The “about” tab for McClellan’s website details a vision for a new kind of social networking site:
My Nookie
Friends love to talk about sex and My Nookie is the app your sex life and social life can’t be without. Journal and rate your partners and sexual encounters. Share sexperiences with your closest friends, take sexting to the next level and relive your rendezvous with those five star partners.
Fun and tasteful with activity illustrations, My Nookie is fully loaded with features to flirt, play, tease and share. Feeling adventurous? Shake your phone and dare to try something new. Keep it handy on your iPhone because you never know …..
Features:
• Detailed diary of your sexual activities with date, partner, location, ratings and notes
• Partner contacts with profile, including photo, rating, activities performed, notes and tally
• Sex activity illustrations and descriptions, with the option to add your own
• ‘Shake It’ feature which suggests an activity to try
• Personal profile with ‘nookie’ summary
• Share all or some of your entries, partners, and profile
• Send a sexy invite to a partner or potential partner with alluring pictures
• Email, text or call your partners right from the app
What happens in My Nookie stays in My Nookie with optional pass code lock and discreet mode.
The Bay Citizen reports that My Nookie isn’t available in Apple’s app store (frankly, we’ll be surprised if passes Steve Jobs’s sniff test) but they have some screen shots (examples are on the following pages).
Unfortunately, now that Annabel has legal troubles to contend with, the Citizen reports her partner in the My Nookie venture, Milly Hanley, has taken over the project entirely. Arnie’s lawyer stated that he wasn’t involved with this venture while Annabel’s counsel simply stated that My Nookie was unrelated to their involvement and referred the Citizen back to Ms. Hanley who claims she can’t recall how she met Annabel.
The story around the McClellans is even weirder the more we poke around. Andrew Ross quotes a source in the San Francisco Chronicle:
“While they’ve been described as socialites, they’re definitely not at the top of that heap. I think a more apt description is they were attempting to scale the social heights.”
According to a report Wednesday in the online Bay Citizen, “in recent weeks, citing vague legal troubles, the couple had told friends that they were considering moving their family, which includes two school-aged sons, to South Africa.”
Perusing around a little bit more, Annabel’s Facebook page seems pretty locked up (definitely not accepting new friends) and we found the blog “My Nookie” which has the same feel as the mobile app and was started by “three friends in our 30s and 40s,” the third woman possibly being Jeanette Harris, who, the Citizen article states, hosted a benefit last year with the other two women.
From the blog’s “About Us” page:
We’re three friends in our 30s and 40s who realized that somewhere between meeting our husbands and getting married, we clammed up when it came to talking about our sex lives. MyNookie.com is where we can open up about everything we’re thinking about when it comes to sex and sexual health. And it’s where you can turn to for creative solutions and accurate information—because sex is too important to feel like you’re missing out.
Sure sounds like it could be our three amigas, doesn’t it? So with these developments, this story has gotten exponentially more interesting. We invite anyone with knowledge about the situation to email us and we’ll keep you updated as we learn more. Oh, and be sure to leave your thoughts on the app in the comments. Ms Hanley is probably looking for feedback.
