SEC Orders 2 Galleon Traders To Disgorge $8M

Law360, New York (January 31, 2012, 10:42 PM EST) -- The U.S. Securities and Exchange Commission on Tuesday ordered two former traders who pled guilty to securities fraud in the massive insider trading case surrounding Galleon Group LLP to pay combined disgorgement of almost $8 million.

U.S. District Judge Richard J. Sullivan in New York federal court entered final judgment against ex-Galleon Group trader Craig Drimal — who is serving a 66-month prison sentence — and former The Schottenfeld Group LLC trader David Plate.

Drimal was ordered to pay disgorgement of $6.7 million plus $970,481 in...
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