Thursday, 26 February 2015
Last updated 1 hour ago
Apr 26 2011 | 1:43pm ET
And then there were three.
Prosecutors are poised to win the 21st guilty plea in the Galleon Group insider-trading case when former Galleon trader Craig Drimal enters his today, a court clerk said. Drimal's plea comes less than a week after he lost a bid to have the wiretaps at the center of the case thrown out, and just days after another of his co-defendants, lawyer Jason Goldfarb, also pleaded guilty.
Drimal's plea will leave just three defendants—out of an original seven—to face a jury in the second major trial stemming from the Galleon case. Galleon founder Raj Rajaratnam is currently awaiting a jury's verdict, which did not come after one day of deliberations.
Drimal is accused of being part of the second of two interlocking insider-trading rings in the case, his allegedly helmed by former Galleon trader and Incremental Capital founder Zvi Goffer. Goffer, his brother, Emanuel and Michael Kimelman, both formerly of Incremental, are the only remaining defendants in the case. Their trial is to begin on May 16.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…