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

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