Sunday, 29 March 2015
Last updated 1 day ago
Feb 23 2010 | 8:46am ET
Federal prosecutors appear poised to nab their 10th guilty plea in the Galleon Group insider-trading case.
Ali Hariri, a former vice president at Atheros Communications, has agreed to waive indictment, according to a court filing yesterday. Hariri will be charged in a criminal information, an indication that he has struck a deal with prosecutors.
Hariri is accused of conspiracy and securities fraud. Authorities say he passed confidential information about Atheros to Ali Far, a friend and former hedge fund manager. Far is a major cooperating witness in the Galleon case. He and Choo-Beng Lee, co-founders of the now-defunct Spherix Capital, have also settled civil charges filed by the Securities and Exchange Commission; like Far, Lee has also struck a plea deal with the government.
According to prosecutors, Hariri tipped off Far about Atheros’ lower forecast for the fourth quarter of 2008, and latter told him about the company’s fourth-quarter revenue.
Nine people, including Far and Lee, have pleaded guilty in the Galleon case, and eight are cooperating with investigators. Seven others, including Galleon Group founder Raj Rajaratnam, have pleaded not guilty. All told, 21 people have been charged in the case.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…