Did Galleon Defendant Bare His Soul Over Pizza?

Apr 13 2010 | 9:29am ET

It’s not a sin to be loud at a pizza parlor, but it may be an extremely bad idea.

A Reuters reporter, Aaron Pressman, writes on his blog that he overhead a Boston hedge fund manager tell a priest that he traded on some hot tips he received from a “Danielle.” Did the hedge fund manager—who Pressman speculates could be S2 Capital co-founder Steven Fortuna, who lives outside Boston—mean Danielle Chiesi, Galleon Group founder Raj Rajaratnam’s co-defendant in the insider-trading case?

The exchange between the hedgie and the priest, who were joined by an unidentified female companion, took place last Tuesday at Not Your Average Joe’s in Needham, Mass. Pressman reports that the hedge fund manager “spoke loudly and passionately about his predicament.”

“The manager told the priest he had received information about some hot stocks from ‘Danielle’ and traded on it,” Pressman wrote. “But he got caught because federal authorities were taping the phone calls.”

Fortuna pleaded guilty last year to fraud charges and is cooperating with prosecutors. Among their allegations against him? That he and Chiesi shared insider tips.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of