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3 Feb 2010

"Octopussy" Pleads Not Guilty To Hedge Fund Insider Trading, 6 Others

HedgeCo News - Seven hedge fund traders and lawyers pleaded not guilty to securities fraud charges in the USA v. Goffer et al. case, according to Reuters.

Zvi Goffer, dubbed "Octopussy", appeared before Manhattan federal court Judge Richard Sullivan to answer an indictment unsealed on January 21, charging them with securities fraud and conspiracy to commit securities fraud, Reuters reported today.

The others who pleaded not guilty were associated with Incremental, Reuters said; Zvi Goffer's brother Emanuel Goffer, Michael Kimelman and David Plate; Arthur Cutillo, who had been a lawyer at Ropes & Gray LLP; and another lawyer, Jason Goldfarb.

The Galleon insider trading case also involves the employees of some of America’s best-known companies, including International Business Machines Corp, McKinsey & Co and Intel Capital, an arm of Intel Corp.

Reuters also reports that a former Wall Street hedge fund manager, David Slaine, pleaded guilty last December to charges of insider trading that reaped profits of $3 million. The plea was unsealed yesterday.

1 comment:

Anonymous said...

My friend and I were recently discussing about the ubiquitousness of technology in our daily lives. Reading this post makes me think back to that discussion we had, and just how inseparable from electronics we have all become.

I don't mean this in a bad way, of course! Ethical concerns aside... I just hope that as technology further develops, the possibility of downloading our memories onto a digital medium becomes a true reality. It's one of the things I really wish I could see in my lifetime.

(Posted on Nintendo DS running [url=]R4 SDHC[/url] DS OperaMod)