Here are the details on the criminal charges filed by US prosecutors’ alleged involvement in insider trading.
The latest round of charges revolve around a former Galleon Group employee.
At the centre of the matter is Zvi Goffer. The feds alleged that Goffer ran an insider-trading network, first at Galleon, then at his own firm, Incremental Capital. The network would obtain non-public information about companies’ planned merger and acquisitions.
Borrowing a page from The Wire, Mr. Goffer allegedly handed out “burners”–disposable prepaid cell phones–to his co-conspirators.
The complaint mentions several deals:
- the 2007 acquisition of Avaya Inc by Silver Lake and TPG Capital
- the 2007 acquisition of 3Com by Bain Capital Partners LLC
- the acquisition of Kronos Inc by Hellman & Friedman
- the acquisition of Axcan Pharma, Inc by TPG
- and Blackstone’s acquisition of Hilton Hotels Corp.
Here is the full complaint (via the WSJ)