According to Reuters Arthur Cutillo, a former lawyer with the well-known Ropes & Gray law firm who admitted leaking corporate secrets, was sentenced on Thursday to 2-1/2 years in prison for his part in a sweeping insider trading case.
Cutillo's name featured prominently at a trial that ended on June 13 with the conviction of three traders on securities fraud and conspiracy charges brought by federal prosecutors in New York in a crackdown on insider trading at hedge funds.
Cutillo said at his plea proceeding in January that he received $32,500 in cash for providing inside information to trader Zvi Goffer about merger activity involving computer network equipment maker 3Com Corp and Canadian drug company Axcan Pharma Inc [TPGPH.UL] in 2007. Zvi Goffer once worked for the Galleon Group hedge fund, whose founder, Raj Rajaratnam, was also found guilty on insider trading charges after a separate high-profile two month-long trial that ended on May 11.
http://www.reuters.com/article/2011/06/30/galleon-goffer-lawyer-idUSN1E75T15E20110630
No comments:
Post a Comment