Goffer Calls Guilty Verdict Just, Seeks Leniency

Sep 1 2011 | 12:30pm ET

Zvi Goffer is singing a very different tune as the former Galleon Group trader and convicted insider-trader faces more than a decade in prison.

Goffer has long proclaimed his innocence; prosecutors say he was the ringleader of one of two interlocking insider-trading rings in the Galleon Case. But in his sentencing memorandum seeking leniency, Goffer offers something of an apology.

"The arrogant swagger of 2007 has been replaced with an honest humility in 2011," Goffer's lawyer, William Barzee, wrote. "Today, Zvi Goffer is a truly remorseful and humbled man."

Barzee appended a letter written by Goffer himself, which called the jury verdict against him "just."

"I know and fully accept the fact that I will be imprisoned for a long time for what I have done," he wrote. Sentencing guidelines call for Goffer to serve between 10 and 15 years.

The sentencing memorandum claims that Goffer's two young sons had changed him, and that Goffer's insider-trading took place over just one year, ending in 2008, when he was "youthful, impulsive and reckless."

Barzee claims that Goffer stopped trading illegally when he founded his own hedge fund, Incremental Capital, that year.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of