Galleon Insider-Trader Goffer Settles SEC Cases

Dec 13 2011 | 2:21am ET

Former Galleon Group trader Zvi Goffer has agreed to pay more than $1 million to settle Securities and Exchange Commission charges stemming from his leading role in the major insider-trading scandal.

Goffer, convicted in June of running one of two interlocking insider-trading rings, has also been barred from the financial services industry. Following his criminal conviction, Goffer was sentenced to 10 years in prison and ordered to pay more than $10 million in forfeitures.

The recent settlements end two SEC civil cases against Goffer.

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