Zvi Goffer, a former Galleon Group LLC trader whose 10-year prison term is the third-longest sentence in a recent federal crackdown on illegal insider trading, will ask an appeals court Monday to reduce his sentence.
He was convicted at a 2011 trial of trading on tips from junior lawyers at Ropes & Gray LLP and has spent the last 16 months at a prison camp in Lewisburg,Pennsylvania.
Defense lawyer Alexander Dudelson will tell the U.S. Court of Appeals in Manhattan that Goffer’s 10-year term is illegal because it is 'disproportionate' to other insider-trading sentences. On the same day Goffer was sentenced, another person convicted at a Manhattan trial got four years for passing tips. Dudelson will compare Goffer’s sentence to that of his ex-boss, Galleon co-founder Raj Rajaratnam, who got 11 years after he was convicted of leading a $50m insider scheme.
'At the end of the day, we really want a reduction in the sentence', Dudelson said in a phone interview.
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