Robert Moffat Jr., a senior vice president at IBM whose name has been thrown around as candidate for CEO, isn’t allowed to return to work for an undetermined amount of time now that he has been arrested for insider trading.
Government officials say Moffat shared confidential information about IBM and its partners with New Castle Funds’ Danielle Chiesi, another person arrested on Friday for what could be the largest insider trading case involving a U.S. hedge fund.
The feds accuse Moffat, Chiesi and Raj Rajaratnam, the billionaire founder of hedge fund Galleon Group, as well as three other people, of wrongfully using financial performance data to make well-timed trades and pocketing more than $25 million in profits.
The timeline stretches from 2006-2009, the government says. Rajaratnam, Moffat and Chiesi, along with Mark Curland, another New Castle Funds associate, Anil Kumar, a director at consulting firm McKinsey & Co., and Rajiv Goel, an exec in Intel’s treasury department, all are accused of making illegal trades on Advanced Micro Devices, Akamai, Clearwire Corp., Google Inc., Hilton, Polycom and Sun Microsystems, among other companies.
The six were caught after the government wiretapped their phone lines.
See the opportunity for channel partners to add value through managed mobility services >> https://t.co/8xvCm8kijF
May 21 2018 @ 18:00:59 UTC
SD-WAN unlocks unprecedented growth potential for customers and revenue potential for partners. Learn more in our l hhttps://t.co/uP5p0ZRPp3
May 18 2018 @ 20:40:07 UTC