Monday, 20 October 2014
Last updated 57 sec ago
Dec 21 2009 | 2:10pm ET
Galleon Group founder Raj Rajaratnam and former New Castle Partners executive Danielle Chiesi pleaded not guilty to charges they partook in a $20 million insider-trading circle.
The two were indicted last week on securities fraud and conspiracy charges, two months after their arrest. If convicted, Rajaratnam faces up to 145 years in prison, and Chiesi 155 years.
At the hearing, prosecutors and defense attorneys sparred over when to hold the trial, which U.S. District Judge Richard Holwell, who is presiding over the case, expects to take about a month. The government asked Holwell to set the trial for June or July, ensuring that the case will be wrapped up by the time the Securities and Exchange Commission’s lawsuit against the two goes to trial in August. Lawyers for Rajaratnam and Chiesi asked for more time.
The timetable proposed by prosecutors is “wildly ambitious,” Chiesi’s lawyer, Alan Kaufman, said. But Holwell, who said he would consult with the judge overseeing the SEC case before setting a trial date, warned that they “may wind up on an expedited schedule.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...