Ex-Galleon Trader To Plead Guilty

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.


In Depth

Prominent Hedgie Renee Haugerud Embroiled in Ugly Child Custody Battle

Sep 10 2014 | 2:43pm ET

A high-profile hedge fund manager is caught up in a nasty child custody battle in...

Lifestyle

Full House’s Stamos To Play TV Hedge-Fund Manager

Sep 5 2014 | 4:43am ET

The life of a Connecticut hedge-fund billionaire is coming to the small screen.

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.