Moffat To Jail Sooner, Rather Than Later

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...