Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.