Goel To Be Sentenced Today

Sep 24 2012 | 1:23pm ET

One of the key witnesses in the Raj Rajaratnam trial will finally learn his fate today.

Rajiv Goel will be sentenced for his role in the massive Galleon Group insider-trading trial today in Manhattan. While he faces up to 25 years in prison, he's likely to get much less thanks to his cooperation with the investigation and his testimony against Rajaratnam, a long-time friend.

Goel "substantially helped the government secure a conviction in one of the most significant and high-profile insider-trading trials in history," prosecutor Reed Brodsky wrote to U.S. District Judge Barbara Jones, who will sentence Goel. "From the first day of Goel's cooperation through the present, Goel has been a very important, straightforward and extraordinarily helpful cooperating witness."

Neither of the two other key cooperating witnesses at the Rajaratnam trial, which ended in the hedge fund billionaire's conviction and sentencing to 11 years in prison, received jailtime.

Goel's sentencing has been postponed twice; he was originally to be sentenced on Sept. 12, and then on Sept. 21.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...