Goffer Brother Strikes SEC Deal

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.


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