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Galleon Insider Figure Gets Probation After Leniency Bid

A former Schottenfeld Group LLC employee was sentenced to probation after telling a judge he gave New York’s homeless thousands of dollars earned from an insider-trading scheme tied to the Galleon Group LLC scandal.

Gautham Shankar, 38, who worked for Goldman Sachs Group Inc. before joining Schottenfeld as a trader, was ordered yesterday by U.S. District Judge Richard Sullivan in New York to serve three years of probation, including the first six months in home confinement. In addition to his plea for leniency, former Goldman Sachs colleagues, clients and his parents’ housekeepers sought mercy for Shankar, convicted in 2009 of fraud in the biggest hedge fund insider crackdown in U.S. history.