Wire-Wearing Insider Trader Slaine Dodges Jail

Law360, New York (January 20, 2012, 7:05 PM EST) -- David Slaine, a Wall Street insider trader who turned cooperator and helped take down the Galleon Group LLC and Zvi Goffer rings, was sentenced to community service Friday by a judge who lauded his willingness to “wire up.”

U.S. District Judge Richard J. Sullivan praised the former Chelsey Capital head trader's willingness to wear a wire, tape phone calls and testify at trials — five years' cooperation with the FBI that prosecutors say led to convictions in the Goffer case and the Galleon case.

“Mr. Slaine,...
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