Zvi Goffer told his friend that he was excited to work at Galleon for two reasons.
The first was he thought that because the fund traded so many different stocks, Galleon would conceal his (allegedly insider) trading. His friend Jason Goldfarb thought so, too.
From a transcript of their call used in court yesterday:
Of course, they were both totally wrong; Galleon might have had a piece of everything, but, their calls were being recorded.
The other reason he was so excited was the amount of money Galleon would put at his disposal. He tells Goldfarb, “there won’t be any, like, monetary limits on what I can do and it’s going to be good because I’m going to be in the total camouflage.”
This call appears to hurt Goffer’s credibility because he and Goldfarb discuss something getting an FDA approval.