Thursday, 29 January 2015
Last updated 16 hours ago
Jun 13 2013 | 9:13am ET
The brother of alleged insider-trading mastermind Zvi Goffer has settled with the Securities and Exchange Commission, two years after his criminal conviction on related charges.
Emanuel Goffer agreed to pay more than $1.5 million in disgorgement and prejudgment interest, although he won't actually pay any of it: Half is offset by the $760,000 he was ordered to pay in the criminal case, and the rest will be waived due to his financial condition. Goffer is serving a three-year sentence for conspiracy and securities fraud.
Goffer, his brother and a third employee of Zvi Goffer's Incremental Capital were convicted of buying and trading on inside information from lawyers at Ropes & Gray. Emanuel Goffer was also convicted of assisting his brother in an attempt to cover-up their activities.
In addition to the waived disgorgement, the Goffer also accepted an SEC order barring him from the financial industry.
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…