(money.cnn.com)IBM insider trading
EXCERPT:
By James Bandler with Doris BurkeJuly 6, 2010: 5:51 PM ET
FORTUNE -- At 7:30 in the morning on Oct. 16, 2009, Robert Moffat had already been at his desk at IBM's headquarters in Armonk, N.Y., for an hour and a half. As he had almost every day in his 31-year career at the company, he had left home at 5:30 a.m. to get a jump on work. He had just finished his first call of the day when his phone rang. It was his wife, Amor.
He needed to come home immediately, she said. Five FBI agents were at the house to arrest him for conspiracy related to insider trading. "What's going on?" Amor
implored.
Banking and Finance
EXCERPT:
January 3, 2010
Fishnet temptress Danielle Chiesi snagged by insider trading scandalTony Allen-Mills in New York Her mother calls her “my angel”, and “the most honest human being in the whole world”. Yet federal investigators take a different view of Danielle Chiesi, a former beauty queen turned hedge-fund consultant, who has emerged at the centre of the biggest insider trading scandal to shake Wall Street for decades.
The publication of federal indictments against the flamboyant chief of a $7 billion (£4.3 billion) hedge fund has provided a glimpse into a secretive world of male-dominated corporate networking that allegedly proved almost comically vulnerable to the seductive charms of a woman described by one Wall Street website as “a blue-eyed temptress”.
Invariably clad in low-cut blouses and short skirts, Chiesi cut a glamorous swathe among the geekish male executives of California’s Silicon Valley, where she built an enviable network of high-powered executive contacts at prestigious technology companies.
“She bragged about her contacts,” said Deborah Stapleton, a California executive who often saw Chiesi, a 44-year-old divorcée, plying her charms on dazzled nerds at computer conferences. “It amazes me that grown, wealthy, successful, hardworking men fell for that.”
Rajaratnam galleon insider trading
ResourcesRaj Rajaratnam, the billionaire investor and founder of Galleon Group, has been charged in connection with an alleged insider trading scheme described by US prosecutors as the biggest ever involving hedge funds
The spread of inside information
Blog: John Gapper
FBI cracks alleged insider ring
Paul Murphy
Ex-IBM executive jailed in Galleon case
A former senior executive at IBM was sentenced to six months in prison after pleading guilty to charges arising from the Galleon hedge fund insider trading probe - Sep 13 2010
Watchdogs probe claims of Galleon case leaks
A pair of government watchdogs have agreed to look into claims that officials from the DoJ and SEC leaked sensitive information to the media about the insider trading investigation of Raj Rajaratnam and his Galleon hedge funds - May 26 2010
Amid giant insider trading scandal Galleon Group to shut doors
EXCERPT:
The Galleon Group, caught up in the largest-ever hedge fund insider-trading scandal, is liquidating its funds even as investors enjoy one of the firm's best years.
On Friday U.S. authorities arrested Galleon founder Raj Rajaratnam, New Castle Partners' Mark Kurland and four others for their alleged roles in an insider-trading scheme that netted more than $20 million. These six could face up to 20 years of prison if federal prosecutors win convictions.
Danielle Chiesi New Castle Partners wire taps
EXCERPT:
Here are excepts of wire taps of Danielle Chiesi New Castle Partners. Danielle Chiesi was arrested today along with five others as part of the alleged $20 million insider trading scandal.
The taps reportedly include the following Chiesi exchange:
Raj Rajaratnam: “I think you should buy and sell, and buy and sell.”
Akamai executive: “Danielle, I have a major present for you.”
Danielle Chiesi reportedly asks what the executive is talking about.
Akamai executive: “Information”.
Chiesi: “Well that, that is a great present.”
Chiesi: “Akamai…. I’m trading it tomorrow.. They’re gonna
guide down. I just got a call from my guy … I was talking
about the family and everything, and then he said people think
it’s gonna go to 25 (dollars per share). They print on
Wednesday.”
Rajaratnam: “You got a few more days, Friday, Monday …”
Chiesi: “Just keep shorting every day. We got a lot of days.”
Rajiv Goel, Anil Kumar, Danielle Chiesi, Mark Kurland, and Robert Moffat were arrested today in the Galleon Group Hedge Fund alleged insider trading scandal.
Reports state the second complaint accuses “Danielle Chiesi, Mark Kurland and Robert Moffat — of securities fraud and conspiracy to commit insider trading.”
For continuing coverage on LALATE click here: http://news.lalate.com/category/money.
Secret Skadden Arps contract scandal
Secret Skadden Arps Contract Scandal
Mar 30 2008, 11:12 AM
Skadden Arps, a law firm that has been paid $3.9 million for its work on New Jersey's Gov. Jon S. Corzine's toll road plan, bid more than a competitor that was initially deemed superior by state evaluators.
A review of bid and billing documents reveal that the politically connected Skadden, Arps, Slate, Meagher & Flom, LLP, needed an extra step of evaluation to be deemed most qualified for the job, then did not use the lawyers featured in its bid proposal. The firm also represents clients likely to seek contracts with the state if Corzine's toll road plan is enacted.
