Galleon's Goffer Gets 10 Years For Insider Trading

Law360, New York (September 21, 2011, 4:57 PM EDT) -- A New York federal judge on Wednesday sentenced former Galleon Group LLC trader Zvi Goffer to 10 years in prison for allegedly trading on stock tips on upcoming mergers, one of the longest sentences ever imposed for insider trading.

Despite a tearful plea for leniency from Goffer, a 34-year-old who had been a rising Wall Street figure before his involvement in the scheme, U.S. District Judge Richard J. Sullivan said the sentence was necessary as a deterrent.

“Insider trading is very hard to detect. Because of...
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