Thursday, 18 September 2014
Last updated 11 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.