A lawyer caught up in the Raj Rajaratnam investigation stood in a Manhattan courtroom on Thursday and admitted to a “horrible mistake” in relaying confidential information about corporate acquisitions to a trader in exchange for — what else?– money. Unfortunately for the lawyer, Jason Goldfarb, what he did wasn’t just a mistake. It was a crime.
“I can assure you my life of crime is over, your honor” Goldfarb told U.S. District Judge Richard Sullivan of the Southern District of New York shortly before pleading guilty to one count each of securities fraud and conspiracy, according to an account by Ashby Jones of The Wall Street Journal.
Alas, his law career might be over too. Goldfarb, 32, pleaded guilty to one count each of conspiracy and securities fraud, crimes that could send him to prison for up to 25 years, although prosecutors and the defense agreed to recommend a sentence of between three and four years.
Goldfarb had been scheduled to go on trial next month. Instead, he became the 20th defendant in the Rajaratnam-related cases to plead guilty.
