Ex-Galleon Trader Gets 5 1/2 Years For Insider Trading

Law360, New York (August 31, 2011, 6:16 PM EDT) -- A former Galleon Group LLC trader who pled guilty to insider trading charges received a 5 1/2 year prison sentence in New York on Wednesday.

Craig Drimal's 66-month prison sentence was short of the sentence of 70 to 87 months federal prosecutors had sought for the trader, who made $10 million trading on illegal tips on the potential acquisitions of 3Com Corp. and Axcan Pharma Inc. Drimal also received three years of supervised release, an $11 million forfeiture order and a $600,000 special assessment fee under...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.