Zvi Goffer, a trader nicknamed Octopussy because his arms reached into so many sources of information, was found guilty of insider trading Monday, the latest victory for the government in a sweeping crackdown on insider trading at hedge funds.

A 12-person jury convicted Mr. Goffer and two accused co-conspirators, Emanuel Goffer and Michael A. Kimelman, on its fifth day of deliberations in Federal District Court in Manhattan. They each face up to 25 years in prison and are free on bail until their sentencing later this year.

The case was connected to the prosecution of Raj Rajaratnam, the hedge fund tycoon and co-founder of the Galleon Group who was found guilty last month in the largest insider trading case in a generation. Zvi Goffer, who sat in on much of Mr. Rajaratnam’s trial, was employed briefly by Galleon.

“We’re disappointed in the verdict,” said William R. Barzee, the lawyer for Mr. Goffer. “It was a difficult trial and we plan on appealing.”

With Monday’s verdict, the United States attorney’s office in Manhattan, which has led the Justice Department’s inquiry into illegal stock trading, has now secured at least 43 convictions or guilty pleas on insider trading crimes during the last two years.

Forty-nine people have been charged, including Winifred Jiau, a former consultant with a Wall Street research firm who is currently on trial in an unrelated case.

As in the case against Mr. Rajaratnam, wiretaps played a central role in the Goffer trial. The jury heard secretly recorded telephone conversations between Mr. Goffer and fellow traders swapping confidential information about coming mergers and acquisitions.

Related Links DealBook's Coverage of the Insider Trading Investigations

The testimony in the case against Mr. Goffer had a more lowbrow feel than the evidence that emerged during the Rajaratnam trial, which featured rarefied stock tips from a Goldman Sachs board member and a top executive at the consulting firm McKinsey & Company.

By contrast, Mr. Goffer received his corporate secrets from low-level associates at a corporate law firm. Brien Santarlas and Arthur Cutillo, both lawyers at Ropes & Gray, pleaded guilty to passing to Mr. Goffer information about deals the firm was working on.

The two fed their tips to a third lawyer, the Brooklyn personal-injury lawyer Jason Goldfarb, who then passed the intelligence on to Mr. Goffer. Mr. Goldfarb also pleaded guilty.

Among the transactions the lawyers leaked: TPG’s acquisition of Axcan Pharma in November 2007 and Bain Capital’s failed takeover of 3Com in September of that year.

Mr. Santarlas testified during the trial and described how he and Mr. Cutillo would snoop around their firm looking for confidential deal documents. He also told the jury why he participated in the insider-trading ring.

“While we were making good money, it seemed like nothing compared to the money on Wall Street,” Mr. Santarlas said.

The way in which Mr. Goffer paid his sources was also less sophisticated than Mr. Rajaratnam’s compensation methods, which included an elaborate scheme involving wiring money into a Swiss bank account and another in the name of a tipster’s housekeeper.

Mr. Goffer delivered his kickback payments in envelopes stuffed with cash. On one call, Mr. Goffer boasted that he was “responsible for a honeymoon and a kitchen” for a $25,000 payment he made to the two lawyers.

Mr. Goffer, 34, worked at a number of different trading shops before joining Galleon in 2008. After nine months there, he left to start his own hedge fund, Incremental Capital, with his brother and Mr. Kimelman.

A parallel civil complaint brought by the Securities and Exchange Commission said that Mr. Goffer’s nickname among his fellow traders was Octopussy — a reference to the James Bond movie — because of his expansive information network.

Mr. Barzee, the lawyer for Mr. Goffer, instead described his client as a “gold miner” who panned for gold along the “river of gossip.” He portrayed Mr. Goffer as nothing more than a big talker who used hyperbole and braggadocio to impress his fellow traders.

One of those traders was Mr. Kimelman, a former lawyer who practiced at the prestigious firm of Sullivan & Cromwell before pursuing riches on Wall Street.

“We are enormously disappointed with the verdict as we believed the evidence clearly showed that Mr. Kimelman had not engaged in any insider trading,” said Michael Sommer, the lawyer for Mr. Kimelman. “We will of course pursue all avenues of appeal.”

Michael Ross, the lawyer for Emanuel Goffer, the younger brother of Mr. Goffer, did not respond to a request for comment.