Tipster Pleads Guilty In Galleon Case

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.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...