Saturday, 23 August 2014
Last updated 17 hours ago
Nov 1 2012 | 12:39pm ET
Another cooperating witness in the Galleon Group insider-trading case has been handsomely rewarded for his assistance.
Michael Cardillo, a former portfolio manager at Galleon, was sentenced to three years probation for his role in the wide-ranging scandal. He is the latest person who struck a deal with prosecutors to be spared prison.
Cardillo, who testified at the trials of Galleon co-conspirators Craig Drimal, Emanuel Goffer, Zvi Goffer and Rajat Gupta, but not at that of Galleon founder Raj Rajaratnam, was also ordered to forfeit $291,189.
When he pleaded guilty last January to conspiracy and securities fraud, Cardillo admitted that he traded on confidential information he received from Drimal, as well as on tips he received from Rajaratnam's brother, Ragakanthan, via Rajaratnam and Gupta. Ragakanthan Rajaratnam was identified as a co-conspirator in the case, but has not been charged.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note