Bloomberg News

Kimelman Appeals Conviction, Sentence for Insider Trading

October 21, 2011

(Updates with appeals court in second paragraph.)

Oct. 21 (Bloomberg) -- Michael Kimelman, the co-founder of Incremental Capital LLC, appealed his conviction and sentence for insider trading.

Kimelman, sentenced Oct. 12 to 2 1/2 years in prison, appealed to the U.S. Court of Appeals in New York, according to a court filing dated yesterday.

A jury found Kimelman guilty in June in a scheme to bribe two lawyers at the Boston-based law firm Ropes & Gray LLP to disclose secret information about companies including 3Com Corp. and Hilton Hotels Corp. Also found guilty were brothers Zvi and Emanuel Goffer.

Kimelman was sentenced a day before Raj Rajaratnam, the founder of Galleon Group LLC, received an 11-year sentence for insider trading. Kimelman’s lawyers include Michael Sommer.

The case is USA v. Goffer, 10-00056, U.S. District Court, Southern District of New York (Manhattan).

--Editors: Stephen Farr, Charles Carter

To contact the reporter on this story: Don Jeffrey in New York at djeffrey1@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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