Ex-Galleon Trader Gets Probation

Jun 5 2012 | 10:22am ET

A former Galleon Group trader who wore a wire for the government has been handsomely rewarded for his cooperation.

Franz Tudor was sentenced to just three years' probation and ordered to pay $106,000 on Friday. Prosecutors credited Tudor, who pleaded guilty almost three years ago, with winning the guilty plea of former Diamondback Capital Management trader Anthony Scolaro. Tudor also taped conversations with Incremental Capital's Zvi Goffer and Michael Kimelman, both of whom were convicted at trial.

Tudor worked at Incremental after leaving Galleon and following a stint at Schottenfeld Group. He began cooperating with investigators in October 2008.

"Your cooperation is very impressive," U.S. District Judge Richard Sullivan told Tudor. "It was immediate, it was substantial and it was time-consuming."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...