You may have missed it among the orgy of SEC enforcement news this week, but over at the U.S. attorney’s office in Manhattan, the lead prosecutor of the Galleon Group insider-trading case is quitting—to start his own practice in white-collar defense.
Joshua Klein, an assistant attorney in the Southern District of New York for 10 years, had been taking point on the Galleon case since October when the Justice Department arrested Galleon founder Raj Rajaratnam on insider-trading. The case has exploded since then, with more than 20 arrests keeping plenty of lawyers and newspaper headline writers busy. The first plea-bargains seem likely to arrive any day now, although Klein may not be around to see them. He reportedly will be out of the U.S. attorney’s office by the end of next week.
