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Ex-Galleon Trader Craig Drimal to Plead Guilty, Court Says

Craig Drimal, a former Galleon Group LLC employee charged with insider trading as part of federal investigation of the New York hedge fund, is scheduled to plead guilty today in Manhattan, a court clerk said.

Drimal, a trader, and several co-defendants face trial next month for allegedly taking part in what U.S. prosecutors said is one of three insider-trading rings tied to Galleon. The fund’s co-founder, Raj Rajaratnam, is on trial for insider trading in Manhattan federal court. The jury began deliberations yesterday.