New York (HedgeCo.net) – 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 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 in the case of SEC v David Slaine.
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