Bloomberg – Former Galleon Group LLC hedge fund trader Craig Drimal was sentenced to 5 1/2 years in prison after admitting his part in an insider-trading scheme that stretched from technology firms to pharmaceutical companies.
Drimal, 55, pleaded guilty in April to six counts of conspiracy and securities fraud, admitting that he and others at Galleon traded on inside information obtained from lawyers working on transactions involving 3Com Corp. and Axcan Pharma Inc. Drimal said the tips came from Arthur Cutillo and Brien Santarlas, lawyers at Boston-based Ropes & Gray LLP.
