SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
During his first debriefing by two FBI agents on June 12, 2007, Wall Street insider David Slaine mentioned suspicious trades by two hedge funds: Raj Rajaratnam’s Galleon Group LLC and Steven A. Cohen’s SAC Capital Advisors LP.
David Slaine had a secret for the FBI that summer day, one of scores he would eventually reveal in his role as a dream informant. The subject was Teterboro Airport. Slaine claimed a money manager he knew was using it to profit quietly on trades of health-care stocks.
Prosecutors rested their insider- trading case against ex-Galleon Group LLC trader Zvi Goffer , who offered no evidence on his own behalf, while a lawyer for one of Goffer’s accused accomplices, Michael Kimelman , tried to show his client didn’t trade on illegal tips.
Prosecutors rested their insider- trading case against ex-Galleon Group LLC trader Zvi Goffer , his brother Emanuel, and accused accomplice Michael Kimelman as the traders offered evidence that they didn’t trade on illegal tips.
Zvi Goffer , the ex-Galleon Group LLC hedge fund trader, was convicted with his brother and a third defendant on all counts by a jury in the second trial to result from a nationwide crackdown by the U.S. on insider trading.
Former Galleon Group LLC trader Zvi Goffer , accused of leading one of three insider-trading rings that are the subject of a nationwide U.S. probe, was indicted along with four others on additional charges.
Former Galleon Group LLC trader Zvi Goffer , who is accused of leading an insider-trading ring, and four co-defendants urged a judge to dismiss the government’s case, citing the inadequacy of the evidence against them.