Emanuel Goffer was sentenced to 36 months for his role in an insider-trading scheme carried out with his brother, former Galleon Group LLC trader Zvi Goffer.
U.S. District Judge Richard Sullivan sentenced Emanuel Goffer in a hearing in Manhattan today, two weeks after he gave brother Zvi Goffer 10 years in prison. Both brothers were caught in a U.S. crackdown on insider trading at hedge funds. Galleon co-founder Raj Rajaratnam, who directed the biggest ring in the scandal, is to be sentenced Oct. 13.
Prosecutors said nonbinding federal sentencing guidelines called for Goffer to get as much as 51 months to 63 months in prison.
Goffer, who co-founded Incremental Capital LLC in New York, was responsible for instant messages and transactions intended to provide cover for illegal trades, the U.S. said. He used an untraceable prepaid mobile phone to pass tips to his brother and helped pay bribes to the two lawyers who originated the tips, prosecutors said.
In a sentencing memorandum filed with the court, Goffer asked for a “tempered sentence” shorter than the guidelines range calculated by U.S. probation officials. Goffer said in the filings that his son isn’t meeting “age appropriate gross motor milestones.”
