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A hedge fund trader who paid hefty bribes to coax confidential information out of shady lawyers has been sentenced to three years in prison.

Emanuel Goffer was sentenced Friday in New York City.

It’s part of what prosecutors call the biggest insider trading case ever brought against the hedge fund industry.

The government says more than $70 million in illegal profits were made over several years in the scheme.

Goffer was among more than two dozen people arrested in 2009 and 2010. All have been convicted, most after choosing to plead guilty.

Goffer was convicted in June along with his brother and a third man.

That came a month after the conviction of Raj Rajaratnam. The one-time billionaire from Sri Lanka founded the Galleon Group of hedge funds.

Originally published on Advisor.ca