Lawyer Pleads Guilty In Galleon Case

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.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR