Wednesday, 30 July 2014
Last updated 10 hours ago
Sep 21 2010 | 10:58am ET
Robert Moffat, the former IBM executive-turned-insider-trading tipster, was given until next June to begin serving his six-month sentence in the Galleon Group case. But the waiting, apparently, proved to stressful.
Instead, Moffat, who admitted to passing confidential information on to former New Castle Partners executive Danielle Chiesi, with whom he was having an affair, will turn himself by Nov. 5.
“Mr. Moffat has discussed this matter with his family and they collectively feel that the pendency of a prison sentence creates substantially more stress than the benefit of spending the holidays together,” his lawyer, Kerry Lawrence, wrote to the court.
U.S. District Judge Deborah Batts approved the earlier start to Moffat’s sentence. She had earlier given him until June 30 to begin his sentence, after he asked for the time to allow him to attend his son’s college graduation in May. Instead, he will now be out by May to attend the event.
Chiesi, who is Galleon founder Raj Rajaratnam’s co-defendant, has pleaded not guilty.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…