Ex-Galleon Trader Zvi Goffer Seeks Reduced Prison Term

Gavel

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.

Bloomberg reports that Goffer, 36, is one of dozens of traders, executives and lawyers convicted in a wide-ranging U.S. attack on illegal trading on Wall Street.

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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Ex-Galleon Trader Zvi Goffer Seeks Reduced Prison Term

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