Trader Gets 3 Years' Probation For Galleon Fraud

Law360, New York (November 2, 2011, 7:02 PM EDT) -- A former trader with The Schottenfeld Group LLC who pled guilty to securities fraud in the massive insider trading case surrounding Galleon Group LLP was sentenced Wednesday in New York federal court to three years' probation and ordered to forfeit $289,000.

Leading up to David Plate's sentencing before U.S. District Judge Richard J. Sullivan, the U.S. Attorney's Office for the Southern District of New York told the court in an Oct. 11 filing that Plate's cooperation in the case “provided substantial assistance to the government in...
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