MANHATTAN (CN) – An attorney was sentenced on Friday to three years in federal prison for passing along information in an inside-trading ring. Jason Goldfarb pleaded guilty in April to passing along the inside information to Zvi Goffer, who acted on it.
Goldfarb, 33, admitted he passed along inside information that had been misappropriated from the Ropes & Gray law firm. He pleaded guilty on April 21 to conspiracy and securities fraud.
Goldfarb got the information from Ropes & Gray attorneys Arthur Cutillo and Brien Santarlas, and passed it along to Goffer, who traded on it, the U.S. Attorney’s Office said in announcing the sentence.
Cutillo and Santarlas got the information from the law office, which was providing information about mergers and acquisitions, prosecutors said. Goldfarb also must forfeit $1.1 million and pay a $32,500 fine.
Cutillo and Santarlas already have pleaded guilty. Cutillo was sentenced to 30 months in prison. Santarlas will be sentenced on Oct. 28.
Goffer was convicted in a federal jury trial. He will be sentenced on Sept. 21.