On September 19, Frank Tamayo surrendered to the FBI and pled guilty before Judge Michael A. Shipp of the District of New Jersey pursuant to an information charging him with one count of conspiracy to commit securities and tender offer fraud, one count of securities fraud, and one count of tender offer fraud.  Tamayo admitted to obtaining material nonpublic information from a former law school classmate who stole the information from his then-employer, Simpson Thatcher & Bartlett LLP.  Tamayo further admitted to passing on this inside information to his broker by showing him the symbol of the company whose securities should be purchased on a paper or napkin, which he then destroyed by chewing on it.  Accordingly to the government, the five-year scheme resulted in more than $5.6 million in illicit profits.  U.S. v. Tamayo, 14 Cr. 542 (D.N.J.)  DOJ Press Release