In a recent opinion piece ("A Wall Street Witch Hunt") in The New York Times, writer William Cohan tells the history of Club Road resident Robert Freeman. The Rye resident (then and now) was the former head of Goldman's risk arbitrage department.
Freeman was arrested in 1987 on charges of insider trading, was prosecuted by then United States Attorney for the Southern District Rudolph Giuliani and served four months in jail. Writer Cohan argues prosecutorial overreach and suggests a presidential pardon. The story also mentioned Water's Edge resident James Flick.
"Freeman was led across the trading floor to the elevators and then was taken down to Broad Street. Once outside, he was handcuffed, put in a van, and taken to the federal courthouse in Foley Square to be arraigned. When he got out of the van, Goldman’s head of security, Jim Flick — a neighbor of Freeman’s from Rye, N.Y. — threw a raincoat over Freeman’s wrists and the assembled press snapped pictures of the Goldman partner heading into the courthouse…
Now 67, Bob Freeman still lives in the same house in Rye with his wife, Margo, as he did on the day he was arrested. His children have grown. He plays golf when he can. He is recovering from cancer. He thinks a lot about what happened to him. He has never really worked again. He missed out on his chance for an even more senior position at Goldman Sachs and a windfall of hundreds of millions of dollars that other Goldman senior partners received when Goldman went public a decade ago."