Lawyer Who Took Plea Delivers on Stand, Helps Convict Goffer, 2 Others in Insider-Trading Case
An attorney who admittedly participated in an insider-trading scheme by providing confidential information about clients of a well-known law firm to a former trader with the Galleon Group hedge fund has helped convict Zvi Goffer and two other individuals in a securities-fraud conspiracy case.
A federal jury in Manhattan today found Goffer, his brother and another trader guilty on all charges, reports the Wall Street Journal (sub. req.).
The Associated Press, Bloomberg and the DealBook blog of the New York Times also have stories.
The mechanisms by which former Ropes & Gray attorney Brien Santarlas admittedly relayed information to Goffer’s group via personal injury lawyer Jason Goldfarb, with the alleged help of another attorney at Ropes & Gray, are detailed in earlier ABAJournal.com posts. They also report the earlier conviction of Raj Rajaratnam, who co-founded the Galleon Group hedge fund.
The law firm, which has cooperated with the investigation, has said the ex-associates’ conduct constituted “an extreme breach of their duty of trust to our clients and the firm, as well as gross violations of our policies and civil and criminal law,” the Wall Street Journal notes.
Earlier coverage:
ABAJournal.com: “Ropes & Gray Associate Arrested in Galleon Probe”
ABAJournal.com: “Another Former Ropes & Gray Associate Is Charged in Galleon Case”
ABAJournal.com: “Another Attorney Takes Plea in Galleon Case, Admits Connecting Trader with Ex-Ropes & Gray Lawyers”
ABAJournal.com: “Ex-Ropes & Gray Lawyer Says Pay Jealousy Spurred His Insider Trading Tips”
ABAJournal.com: “Ex-Ropes & Gray Lawyer Explains How He Snooped for Merger Information”
