Schottenfeld Trader Cops To Insider Trading Charges

Law360, New York (July 16, 2010, 4:27 PM EDT) -- A proprietary trader at Schottenfeld Group LLC has pled guilty to conspiracy and securities fraud charges as part of the widespread probe centered on insider trading at the Galleon Group LLC hedge funds.

David Plate, 35, pled guilty Friday in the U.S. District Court for the Southern District of New York to trading on inside information about acquisitions involving 3Com Corp. and Axcan Pharma Inc.

Plate, who received the information from trader Zvi Goffer, believed the intelligence was from someone working on the transactions, according to...
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