Former University of Michigan medical professor Sidney Gilman lived 'parallel life' with Wall Street
Gilman is accused of sharing nonpublic information about a clinical trial of an Alzheimer's drug to a hedge fund portfolio manager, leading to massive multimillion-dollar trades. Gilman, who served as chairman of the safety committee overseeing the trial, entered into a non-prosecution agreement with the Securities and Exchange Commission in exchange for cooperating with the investigation.
His conversion to a Wall Street consultant came abruptly in his late 60s, the Times reported, and was a well-kept secret from his colleagues.
Gilman consulted with more than 40 clients on drug development and drug trials. He participated in up to 100 meetings a year that each paid around $1,000.
For more, read the New York Times story.