Ex-trader, David Plate who admitted to participating in an insider-trading ring with ex-Galleon Group LLC trader Zvi Goffer and testified at his trial, was sentenced to 3 years’ probation and six months’ house arrest. Apparently, Mr. Plate's proved to be a “significant” prosecution witness, which factored into his reduced sentence. Plate, 36, a former trader at Schottenfeld Group LLC, was one of 26 people charged in two overlapping insider-trading cases involving Galleon Group founder Raj Rajaratnam . He pleaded guilty in July 2010 to securities fraud and conspiracy to commit securities fraud and testified at the trial of Goffer, his brother Emanuel Goffer and trader Michael Kimelman. Plate, who was arrested along with 14 others in November 2009, told the U.S. that while working at Schottenfeld, he received inside information from Zvi Goffer about the acquisitions of 3Com Corp. and Axcan Pharma Inc. and traded on that information in his account and in an account he managed for his sister. He admitted to buying 50,000 shares of Axcan based on insider information that originated with two lawyers at Ropes & Gray LLP. The counts Plate pleaded to carried a combined maximum sentence of 25 years in prison if he had been convicted at trial.   [Bloomberg, 11/2/11]