Friday, January 22, 2010

7 More Indicted and On The Hook For Years of Financial Crimes...

"Among the newly indicted defendants are Craig Drimal, 53, whom prosecutors said worked in Galleon's offices but was not employed there, and Zvi Goffer, 33, who worked at Galleon and later started the Incremental Capital trading firm.

Others indicted include three others associated with Incremental: Zvi Goffer's brother Emanuel Goffer, 31; Michael Kimelman, 38, and David Plate, 34; Arthur Cutillo, 33, who had been a lawyer at Ropes & Gray LLP; and another lawyer, Jason Goldfarb, 31. All live in the New York metropolitan area.

Each of the seven defendants was accused of securities fraud and conspiracy when the government in November announced an expanded probe.

The latest indictments add an additional count of conspiracy and three new fraud counts. They allege the defendants were involved in conspiracies to trade on insider tips about companies that were acquisition targets, including Hilton Hotels Corp and technology company 3Com Corp."

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