January 23rd, 2010 
Before You Invest Seven more people have been indicted in the Galleon Group insider trading ring court case.
Previously only two people had been indicted – Danielle Chiesi and Galleon Group founder Raj Rajaratnam.
Another seven people have already entered guilty pleas in regard to the case.
Among those brought before a grand jury this week are Zvi Goffer, a former Galleon Group employee who went on to found trading firm Incremental Capital.
Prosecutors have claimed that Mr Goffer played a leading role in the insider trading – he is alleged to have passed out prepaid phones to tippers to limit the chances of them getting caught.
He was also nicknamed ‘Octopussy’ by investigators on the grounds of his reported ability at getting hold of insider information.
Others charged in the latest indictment include Mr Goffer’s brother Emanuel, Incremental workers Michael Kimelman and David Plate and two lawyers, Jason Goldfarb and Arthur Cutillo.
Last month, insiders told Bloomberg that Galleon Group is to shut down its operations in Singapore as the company is put through liquidation.
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