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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...