Goel Sentencing Moved To Next Week

Sep 13 2012 | 7:48am ET

Rajiv Goel, one of the key witnesses against Galleon Group founder Raj Rajaratnam at the latter's trial last year, has had his sentencing postponed.

Goel, a longtime Rajaratnam friend and former Intel Corp. employee, was to be sentenced yesterday. Instead, he'll learn his fate on Sept. 21.

Goel faces up to 25 years in prison on his conspiracy and fraud guilty pleas. But prosecutors have urged U.S. District Judge Barbara Jones to show leniency, calling Goel's cooperating "extraordinarily helpful."

"Goel testified against one of his closest friends who had provided him with substantial financial assistance over many years," prosecutor Reed Brodsky wrote to the judge. "Although Goel did not express it or complain about it, he had to overcome the emotional aspect of providing assistance and trial testimony that helped demonstrate his close friend was guilty of multiple counts of securities fraud."

Goel was one of three key cooperating witnesses at the trial against Rajaratnam, which ended in his conviction and sentencing to 11 years in prison. The other two have both been sentenced and neither was sent to prison.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…