A former Marvell Technology Group Ltd employee will pay $60,000 to settle civil charges that he offered insider tips to a hedge fund manager with ties to Galleon Group, U.S. regulators said Thursday. Sam Miri, who worked at Marvell's communications division, will also be barred from serving as an officer or director of a public company, the Securities and Exchange Commission said. A lawyer for Miri could not be immediately reached. The SEC alleges that Miri gave former Galleon portfolio manager Ali Far information that was not publicly available about Marvell's financial performance. Far, who later pleaded guilty to criminal charges in the Galleon matter, used the information to trade on behalf of Spherix Capital, a hedge fund he founded. More than 80 people and entities have been charged criminally in connection with the government's probe into insider trading. The probe also ensnared the founder of the now-defunct Galleon, Raj Rajaratnam, who in 2011 was convicted on
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