A senior IT employee with the law firm Wilson Sonsini Goodrich & Rosati has been arrested for grabbing the firm's confidential client information and using it to trade stocks.

FBI agents arrested 41-year-old Dimitry Braverman at his San Mateo, California, home on Tuesday morning, according to a report in the New York Law Journal. He was released on a $500,000 bond secured by $100,000 cash.

That same day, the SEC filed a civil suit against Braverman. He's accused of loading up on stock and stock options over a three-year period for companies involved in eight pending transactions. After the transactions, he sold the stock or used his options, reaping about $297,000 in profits.

It's the second time in recent years that a Wilson Sonsini employee has been charged with insider trading. The law firm has legendary connections in Silicon Valley, stretching back to when it represented Apple in its initial public offering in 1980.

In 2011, Matthew Kluger, an associate lawyer at the firm, pleaded guilty to a role in a $37 million insider trading scheme. He's now serving a 12-year prison sentence.

According to The New York Times, after the Kluger arrest, Braverman "abruptly closed out" positions in Seagate Technology and stopped trading on confidential information for about 18 months. Eventually, Braverman allegedly resumed trading under an account he opened under the name of a relative from Russia.

The transactions Braverman allegedly traded on involved retailer Gymboree, drugstore.com, Epicor Software, Seagate Technology, software firm Dealertrack Technologies, storage company Xyratex, and pharmaceutical companies YM Biosciences and Astex Pharmaceuticals.

"Believing he could conceal his trades by hiding them in a relative's account, Braverman abused Wilson Sonsini's trust by repeatedly using confidential information about the law firm's clients to reap insider trading profits," said Joseph Sansone of the SEC Enforcement Division.

Wilson Sonsini released its own statement, saying, "Today’s charges against a staff member are deeply disturbing to say the least. Client confidentiality is at the center of all we do and we have strict policies and internal controls established to protect it. We have and will continue to provide our full support to the federal investigation."

The firm says it put Braverman on unpaid administrative leave as soon as it learned of the arrest.