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

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…