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Another Guilty Plea to Inside Trading

MANHATTAN (CN) - A 32-year-old attorney faces up to 20 years in prison after pleading guilty to inside-trading conspiracy charges. Jason Goldfarb admitted selling inside information he got from two other attorneys to Zvi Goffer, who traded on it, the U.S. Attorney's Office said. Goffer has pleaded not guilty to his own inside-trading charges.

Goldfarb is the third attorney to plead guilty in the case. Arthur Cutillo and Brien Santarlas, both formerly with Ropes & Gray, have pleaded guilty to conspiracy and securities fraud, prosecutors said. Goffer allegedly paid all three men for the inside information.

Goldfarb pleaded guilty to conspiracy and securities fraud. He faces up to 25 years in prison and a maximum fine of $5.25 million at his Aug. 19 sentencing.

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