Former Galleon Group LLC hedge fund trader Zvi Goffer was convicted on all counts by a federal jury in Manhattan in the second trial to result from the U.S. government’s nationwide crackdown on insider trading.
Goffer’s brother Emanuel and Michael Kimelman were also found guilty of conspiracy and securities fraud today by a jury that began deliberations June 2. The verdict comes about a month after Goffer’s boss, Galleon co-founder Raj Rajaratnam, was found guilty in the same courthouse of directing the biggest hedge fund insider trading scheme in history.
Rajaratnam and Zvi Goffer were key players in three overlapping insider-trading conspiracies that implicated banks, technology firms, hedge funds and so-called expert networking firms.