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April 21, 2011 7:00 PM

Another Lawyer Pleads Guilty in Galleon Insider Trading Probe

Posted by Ross Todd

Former personal injury lawyer Jason Goldfarb pleaded guilty Thursday in an insider trading scheme that already ensnared two Ropes & Gray associates.

Here's a full report on Goldfarb's guilty plea from The Am Law Daily's colleagues at the New York Law Journal.

Goldfarb pleaded guilty to conspiracy and securities fraud before Manhattan federal district judge Richard Sullivan. He was originally arrested in 2009 as part of the insider trading probe centering on the Galleon Group hedge fund whose founder Raj Rajaratnam is on trial before Judge Richard Holwell.

Goldfarb passed information from his college roommate--former Ropes & Gray patent attorney Arthur Cutillo--to broker-dealer Zvi Goffer.  Both Cutillo and former Ropes & Gray attorney Brien Santerlas accessed client information on pending transactions and passed it to Goldfarb in 2007. Goldfarb, in turn, sent the information on to Goffer. Cutillo pleaded guilty in January and Santerlas pleaded guilty in 2009.

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