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Galleon Sentences Now Getting Serious

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Betracksuited Galleon trader Zvi Goffer got some bad news today:

Zvi Goffer, the ex-Galleon Group LLC trader, was sentenced to 10 years in prison for his role in a scheme to trade on inside information provided by lawyers. ...

“I view this as a tragic day,” said U.S. District Judge Richard Sullivan, who handed down the sentence in a hearing today in Manhattan federal court. “Anything less than that would send the wrong message.”

Zvi, presumably, also viewed it as not one of his best days. It's also of interest to upcoming main event Raj Rajaratnam, scheduled to be sentenced next week and whose sentence is presumably floored by Goffer's. Raj, however, can take some solace from rumors that Judge Sullivan is particularly harsh on white collar offenders; he might do relatively better.

Here's an update of our chart with Goffer added and with Judge Sullivan's sentences broken out, suggesting that they are in fact above average:

Ex-Galleon Trader Zvi Goffer Sentenced to 10 Years in Prison [Bloomberg]


Letter Reveals More Names in Galleon Case

Roomy Khan, one of the key cooperating witnesses in the Galleon insider trading case, used her extensive rolodex of insiders to gain access to secret market-moving information. Recently released court documents show that list of contacts could be longer than we thought.