Zvi Goffer was just sentenced to 10 years for insider trading, according to Bloomberg.
So Raj is screwed.
Goffer’s insider trading sentencing, delivered today, was seen as a litmus test for Raj’s sentencing, coming next week on September 27.
Goffer, like Raj, was convicted of all 14 charges against him.
Prosecutors wanted Goffer to get 13 years. He got 10. (Winifred Jiau, an expert network consultant convicted of insider trading, was sentenced to 4 years in jail yesterday.)
Prosecutors are looking for 24.5 years for Raj. Looks like they’ll get close to that, especially after the interview he gave to a court official earlier this year in which he said he doesn’t understand why his actions are insider trading.
Some say it’s equivalent to a death sentence for Raj. He’s 54 and he’s not in top shape (he had a foot disease, probably related to diabetes, earlier this year).
And, he’s leaving an AWESOME life much cooler than Bernie Madoff’s >
Goffer used to work for Rajaratnam at Galleon. He got super-excited to work for the “big guy.”
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