Wednesday, 1 July 2015
Last updated 6 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…