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Seven More Charged in Hedge Fund Case

MANHATTAN (CN) - Federal prosecutors have charged seven more men with conspiracy and securities fraud in the giant investigation of inside trading allegedly centered in the Galleon Group hedge fund and its founder Raj Rajaratnam. Named in the criminal indictment on Thursday were defendants Zvi Goffer, Arthur Cutillo, Jason Goldfarb, Craig Drimal, Emanuel Goffer, Michael Kimelman, and David Plate.

The defendants worked for the Schottenfeld Group, the Galleon Group, Incremental Capital and the Ropes & Gray law firm, according to the indictment.

According to the indictment:

Zvi Goffer worked at Schottenfield and Galleon, then started operating Incremental Capital in 2008.

Arthur Cutillo was an attorney with Ropes & Gray.

Jason Goldfarb was an attorney in New York.

Emanuel Goffer worked at Spectrum Trading and "was associated with Incremental Capital."

Michael Kimelman was a securities trader and was associated with Incremental Capital.

Craig Drimal "worked in Galleon's office space in New York, N.Y."

David Plate worked at Schottenfield.

They are charged with conspiring to profit from inside trading, and profiting from it.

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