Tuesday, 3 March 2015
Last updated 1 hour ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…