Thursday, 23 October 2014
Last updated 3 hours ago
Mar 4 2010 | 6:47am ET
Federal prosecutors officially won their 10th guilty plea in the Galleon Group insider-trading case yesterday. Ali Hariri admitted tipping off former hedge fund manager Ali Far, a cooperating witness who has also pleaded guilty in the case, about developments at Atheros Communications, where he worked.
Hariri pleaded guilty to conspiracy and fraud charges two weeks after prosecutors said he had agreed to waive indictment. Prosecutors said he passed on the confidential information between 2008 and March 2009; Hariri was arrested in November.
A total of 21 people, including Galleon Group founder Raj Rajaratnam, have been charged in the largest insider-trading case in U.S. history. Rajaratnam and eight others have pleaded not guilty.
Hariri will be sentence on June 10. He faces up to 30 months in prison.
Hariri is the second person to plead guilty in the case without a cooperation agreement with the government. New Castle Partners founder Mark Kurland, the former boss of Rajaratnam co-defendant Danielle Chiesi, also pleaded guilty without a deal with prosecutors.
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…
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 ...