Sunday, 28 December 2014
Last updated 3 days ago
Jan 18 2011 | 2:46pm ET
Prosecutors have won their 15th guilty plea in the Galleon Group insider-trading case with the admission of a lawyer charged in the case.
Arthur Cutillo entered his plea last week in Manhattan federal court; the former attorney at Ropes & Gray was accused of being part of the insider-trading ring allegedly led by Galleon veteran and Incremental Capital founder Zvi Goffer, who has pleaded not guilty.
"I plead guilty," Cutillo told U.S. District Judge Richard Sullivan. "I plead guilty because I am guilty."
Specifically, Cutillo pleaded guilty to conspiracy and securities fraud. Prosecutors say he both traded on confidential information and passed on confidential information gleaned from Bain Capital for money. Cutillo is the second former Ropes & Gray lawyer to plead guilty in the case. Another lawyer, Jason Goldfarb, has pleaded not guilty.
Cutillo, who had initially pleaded not guilty, faces more than three years in prison.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.